Sydney house prices fall 5.3% since January as real estate market cools
House prices have dropped 5.3 per cent in Sydney since January and 5.1 per cent in Melbourne since November, forcing agents to change tactics drastically.
Why it mattersFalling property values change conditions for buyers and sellers, while the market stress is forcing agencies to close or merge and workers to leave the industry.
AustraliaAustralians buying or selling property in major cities are seeing lower prices and fewer bidders, which shifts negotiating power and affects household wealth and real estate jobs.
✓ Claims checked against the source and corrected before publish. checked 3 h ago
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