Story one of ten today, about five minutes for the lot
NSW home values fell 2.4% in the June quarter to $1.305 million; nationally, values dropped 0.7% to $1.1 million.
Why it mattersFalling property values reduce household wealth and may force some owners to carry mortgages worth more than their homes.
AustraliaAustralian homeowners, especially in NSW and Victoria, are seeing significant paper losses; those planning to sell or refinance face pressure.
Top-tier homes fell more than 10.7 per cent in Sydney and more than 10.5 per cent in Melbourne; low-priced properties held steady.
Why it mattersProperty investors and high-end sellers are bearing the brunt; tight affordability and investor caution could weigh on the broader market.
Property values fell $34.1 billion in three months as consumer sentiment collapsed 5.2 per cent.
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