The housing boom is over as prices begin to fall

HOUSE prices in Australia's capital cities fell 1.1 per cent in May, the latest sign Australia's booming property market has finally peaked.

The fall was led by declines in Sydney and Melbourne of 1.3 per cent and 1.7 per cent respectively, according to CoreLogic's latest home value index.

Brisbane and Adelaide notched up slight gains of 0.3 per cent and 0.8 per cent, while Perth and Canberra fell 0.4 per cent and 0.1 per cent. The biggest falls were in Hobart and Darwin, which were down 4.8 per cent and 3.5 per cent on the previous month.

News Corp Australia


Kirsten’s Cottage buyers to have ‘ample options’

premium_icon Kirsten’s Cottage buyers to have ‘ample options’

The Builyan store sells giftwares and groceries, but the sales agent said there are...

WATER WOES: Supply cut without warning

premium_icon WATER WOES: Supply cut without warning

A COUNCIL policy not implemented correctly has left Mt Larcom residents at a loss...

PCYC works to tackle cyber bullying

premium_icon PCYC works to tackle cyber bullying

Working with Elevate Media, the Youth Management Team created a video to spread...