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Sydney and Perth competing for largest house value loss

By Grace Ormsby · August 12 2019
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Invest

Sydney and Perth competing for largest house value loss

By Grace Ormsby
August 12 2019
Reading:
egg
egg
egg
CoreLogic

Sydney and Perth competing for largest house value loss

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By Grace Ormsby · August 12 2019
Reading:
egg
egg
egg
CoreLogic

Sydney and Perth have recorded the most drastic house value drops out of Australia’s capital cities over a 12-month period, according to new data. 

CoreLogic’s Property Market Indicator Summary for the week ending 11 August 2019 has shown that Sydney’s property values are down 8.8 per cent from the same time last year.

Perth has also displayed an 8.8 per cent drop in property value over the same period. 

Melbourne is only just behind, with homes valued at 8 per cent less than they were this time last year. 

Brisbane and Adelaide, while not improving their value figures, are far more stable, with Brisbane’s properties losing just 2.4 per cent of their value and Adelaide’s properties only down 1 per cent. 

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They helped bring the combined capitals down slightly, with the value change reported as -7.4 per cent, with 3.9 per cent of the loss captured in the markets to date this year. 

The information comes after new research revealed that Sydneysiders hold the highest average net wealth Australia-wide, largely thanks to assets held in property. 

Sydney and Perth competing for largest house value loss
CoreLogic
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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

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