PHOTO: Home prices across Australia’s capital cities fell by 2.4 per cent Photo: Getty
Property prices have continued to fall across Australia, dropping a sharp 2.4 per cent in the three months to December.
That led to a 5.1 per cent fall for the whole of 2018, according to the Australian Bureau of Statistics’ Residential Property Price Index, released on Tuesday.
In the wake of the latest figures, experts have warned that it could be a while until the real estate slump eases.
Across the country, prices are now falling faster than they did during the GFC, when Australia – along with most of the world – was in the grip of a crippling economic crisis. Prices fell by 4.6 per cent in early 2009.
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