{"id":37795,"date":"2022-04-02T10:23:25","date_gmt":"2022-04-01T21:23:25","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=37795"},"modified":"2022-04-02T10:23:25","modified_gmt":"2022-04-01T21:23:25","slug":"australias-property-market-is-beginning-to-cool-watch","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australias-property-market-is-beginning-to-cool-watch\/","title":{"rendered":"Australia\u2019s property market is beginning to cool | WATCH"},"content":{"rendered":"

PHOTO: Residential buildings in Sydney, Australia. Photographer: Brendon Thorne\/Bloomberg<\/span><\/strong><\/p>\n

Sydney<\/a> home prices fell for a second straight month and home lending eased, adding to signs that Australia\u2019s property boom, fueled by ultra-low interest rates, is losing momentum.<\/p>\n

The nation\u2019s most populous city recorded a 0.2% drop in March, while prices in Melbourne<\/a> slipped 0.1%,\u00a0CoreLogic Inc. said in a report Friday. Although prices are still advancing across the country, the 0.3% monthly gain for the country\u2019s eight major cities was the equal lowest since October 2020.<\/p>\n

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Profile your business (for 12 months) \u2013 ONLY $499 INCL GST<\/a><\/h2>\n<\/header>\n<\/div>\n

Separate government data showed both the value and number of\u00a0home loans slid\u00a0in February, with new home loan commitments dropping 3.7% to A$32.3 billion ($24.2 billion), down from a record high the previous month.<\/p>\n