Worst suburbs see property prices crash “more than 40%”

Tuesday, 5 March 2019

Via the AFR:

….Average Sydney discounts are about 6 per cent, compared to 5 per cent in Melbourne and about 4.5 per cent in Brisbane, research shows. That compares to a national average of about 5 per cent for houses and apartments.

Agents claim properties in suburbs where demand has slumped, or prices outpaced buyer demand, are being reduced by more than 40 per cent.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.