Australian housing downturn shaves $170 billion off dwelling values in first three months of the year, ABS figures reveal

https://www.perthnow.com.au/business/housing-market/australian-housing-downturn-shaves-170-billion-off-dwelling-values-in-first-three-months-of-the-year-abs-figures-reveal-ng-b881234155z

Australian housing downturn shaves $170 billion off dwelling values in first three months of the year, ABS figures reveal

Home prices fell in every Australian capital city in the three months to March, slicing more than $170 billion from the total value of the country’s dwellings.

Average prices across the eight capitals dropped 3 per cent in the quarter and 7.4 per cent in the year, according to the Australian Bureau of Statistics’ Residential Property Price Index released on Tuesday.

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