PHOTO: Australia House Prices
NATIONAL house prices have fallen for the ninth consecutive month and are now 1.3 per cent lower than their September 2017 peak, leaving recent home buyers “facing negative equity”.
CoreLogic figures released on Monday show dwelling values fell 0.2 per cent in June, bringing the decline to 0.8 per cent over the year. Despite the falls, prices remain 32.4 per cent higher than five years ago.
“This highlights the wealth creation that many homeowners have experienced over the recent growth phase, but also the fact that recent homebuyers could be facing negative equity,” CoreLogic head of research Tim Lawless said in a statement.
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