‘So much debt’: Property values sink in four out of five suburbs

Property values are falling in four out of five suburbs across the capital cities, new figures show, as the housing downturn becomes deeper and more widespread.

Values fell in 2405 house and unit markets over the three months to September, CoreLogic figures show, or 79.5 per cent of markets analysed. It’s a jump from 1293 in the three months to June.

For houses only, house values fell in every analysed suburb in Sydney, Melbourne, Canberra and Hobart over the quarter, the research found. Unit values also fell in every Hobart suburb.

Read More: https://www.smh.com.au/property/news/so-much-debt-property-values-sink-in-four-out-of-five-suburbs-20221017-p5bqfz.html