Australia home prices slide, Sydney suffers worse month in 40 years

Figures from property consultant CoreLogic out on Monday showed prices nationally fell 1.3% in July from June when they dropped 0.6%. Prices were still 8.0% higher for the year reflecting huge gains made over 2021 and early 2022.

SYDNEY: Australian home prices slid for a third month in July and the pace quickened as Sydney suffered its worst decline in almost 40 years amid rising borrowing costs and a cost-of-living crisis.

Figures from property consultant CoreLogic out on Monday showed prices nationally fell 1.3% in July from June when they dropped 0.6%. Prices were still 8.0% higher for the year reflecting huge gains made over 2021 and early 2022.