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House Prices Fall in Sydney and Melbourne in May

  • June 01, 2020 01:04 PM AEST
  • Team Kalkine

House prices in Australia fell in May showing the first monthly drop in property values since June 2019. CoreLogic data shows that-

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  • House prices fell by 0.6% in May 2020 while in Melbourne they fell by 1.1%.
  • Value of units were down by 0.1% in Sydney and 0.6% in Melbourne.
  • Nationally, Dwelling values were down by 0.4% but they lifted in Canberra and Hobart

The drop in the housing prices comes as an effect of the spread of coronavirus on buyers and sellers.

 


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