National home values fall for the first time in almost two-years

2025-01-10 04:44:00

Abstract: Sydney and Melbourne lead housing price corrections, with other regions showing little change. CoreLogic's Owen notes a market adjustment to realistic levels.

Eliza Owen of CoreLogic stated that housing values are gradually returning to reality, with the primary drivers of price declines coming from Sydney and Melbourne.

She pointed out that these two cities have experienced the most significant price drops, indicating that the market is undergoing a period of adjustment. This adjustment reflects a rational return after the previously rapid increase in housing prices.

Owen's analysis emphasizes that price changes in other regions have been relatively small, further confirming the dominant role of Sydney and Melbourne in this housing market adjustment. Market observers are closely monitoring this trend to assess its impact on the broader economy.