However, as seen in this excellent-yet-simple table below from Morgan Stanley Research, values are falling faster in some capital cities and price ranges than others at present.
And in some capitals, prices aren’t falling at all right now — they’re rising.
The price changes indicated in the table use a three-month annualised basis to better demonstrate recent trends.
As has been pointed out previously, it’s the top end of Sydney and Melbourne’s markets that have fallen the fastest over the past three months, particularly for houses.
Given the sheer size of these cities, comprising 40% of all Australian homes and 60% of Australia’s housing wealth, it’s dragged national price measures lower, masking modest strength in many smaller capitals and dwellings valued in lower price ranges.
Just another example that there’s no such thing as an “Australian” housing market.
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