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The property price falls in Sydney and Melbourne are speeding up
The price downturn in Sydney and Melbourne’s housing markets is speeding up, hinting that vendors are now adjusting their price expectations in order to secure a sale. According to CoreLogic, Melbourne’s median home value tumbled 0.4% last week, extending the decline over the past month to 0.8%. After tumbling 0.5% a week earlier, Sydney prices continued to slide, falling by a further 0.3%, leaving the drop from a month earlier at 1.2%. Adelaide’s median price, despite being the top-performing capital city auction market in recent months, also fell, losing 0.1% last week, the same decline reported over the past ... (full story)
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