Three Aussie capital cities House prices fall as heat leaves market.
In last month New data from property firm CoreLogic shows home values in Australia rose 0.5 per cent. But over the past three months three state capitals recorded a decline in values.
Melbourne headed the dip with a -0.9 decline
Hobart -0.8 per cent
Darwin -0.3 per cent
Other capital cities are feeling the impact of a slowing property market.
Perth was tracking at 6.2 per cent, Adelaide accelerated to 5 per cent, Brisbane values rose at a quarterly pace of 3.8 per cent The data is part of CoreLogic’s Hedonic Home Value Index as of August 1, 2024.
specially Adelaide home prices could soon surpass Melbourne as Victorian Capital Slumps
Research director Tim Lawless Said “The number of homes for sale in Brisbane, Adelaide and Perth is more than 30 per cent below average for this time of the year, while weaker markets like Melbourne and Hobart are recording advertised supply well above average levels,”
