Brisbane and Hobart house prices set record for largest, fastest drop
Brisbane and Hobart house prices have fallen sharper and faster than ever before after a "specular upswing" through COVID-19, according to property analysts CoreLogic. Key points: Property values dropped 10.9 per cent in Brisbane, and 9.3 per cent in Hobart Both cities saw values soar during COVID-19 The decline was steeper still in Sydney, but the NSW capital is yet to break records The cities are the only two capital markets to set record declines — but the drop has barely made a dent on pandemic gains, according to the company's home value index. "Through the previous downturn, for example, which ran between the middle of 2017 and the middle of 2019, Sydney housing prices were down nearly 15 per cent through that trough," he said. "So Sydney is not quite at a record level of decline, but it's probably a matter of time considering we're still seeing values falling at around 1 per cent month-on-month in that market." "We're still seeing Brisbane housing prices about 28 per cent above what they were before the pandemic."
CoreLogic house price data shows home values still rising but growth is slowing
Brisbane sheds its sleepy image with surging house values — now only second to Sydney
The Australian suburbs that have recorded the largest value declines since COVID-19 hit
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