PHOTO: Despite house price falls, the mean price of residential dwellings is still $188,600 higher than six years ago. Photograph: Mick Tsikas/AAP
Property price declines in Sydney and Melbourne are no longer confined to expensive dwellings, with the price falls spreading to middle and lower segments of the market.
Bureau of Statistics figures show property prices in Australia’s eight capital cities fell 1.5% on average in the September quarter, marking nine consecutive months of price declines.
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