Pessimism engulfs Melbourne’s property market

Tuesday 29 May 2018

We noted on Friday how Melbourne had overtaken Sydney as having the weakest property market in the nation, with prices falling by 1.2% over the past quarter, according to CoreLogic – the biggest quarterly decline in six years:

The recent price falls across Melbourne are being matched by pessimistic commentary, with Domain reporting over the weekend that vendors are “dropping prices to sell in ‘house of cards’ market”:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.