📈 More often than not, property prices in Australia have gone up, over time.
📉 But if certain markets increase irrationally or by cause of extraordinary demand, sometimes in the wash up, median prices may drop as demand plummets.
📰 Great article by Nila Sweeney in AFR, with data by CoreLogic.
"House prices in popular regional areas such as Byron Bay have slumped by as much as $570,000 since peaking two years ago as buyers falter in the face of high interest rates, data from CoreLogic shows."
"As well, the surge of sea-changers and tree-changers that drove prices higher in popular postcodes has dwindled as the push to return to office workplaces grows stronger."
Is it a chance to buy under market value?
Link to article in comment (DM, call or email for a copy if behind paywall)
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