PHOTO: Tighter bank lending is not the cause of housing price falls says one expert. Picture: Mick Tsikas/AAPSource: AAP

One year makes all the difference when it comes to turning a housing boom into a housing slide.

CoreLogic data showed prices ended the year down 6.1 per cent, and down 1.3 per cent in just December.

If you go by all the hot air that’s circulating, Sydney and Melbourne are the epicentre of the whack to prices, with prices down 8.9 per cent and 7.0 per cent for the year respectively.

But it’s not just Sydney and Melbourne that have been hit.

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