CoreLogic’s Cameron Kusher released interesting data tracking the real inflation-adjusted decline in Australian dwelling values across the major markets to June 2019.
As shown in the below charts, both Darwin and Perth have experienced vicious housing downturns of 39.9% (Darwin) and 36.3% (Perth), with Darwin’s running for nine years and Perth’s 12.5 years:
It is worth pointing out that Brisbane’s dwelling values have also fallen by 17.1% in real terms over more than 11 years.
Given the ‘recovery’ in Australia’s housing market is expected to be gradual at best, it could take many years (and possibly a generation in some individual markets) before dwelling values return to their former glory.
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