Housing markets have recorded another fall in July, making it three straight periods of declines for dwelling values.
However, the magnitude of the falls has been relatively minimal, with just a -0.6% decline in July and a -1.6% fall over the last quarter.
The falls have been most pronounced in the higher-end of the market in both Sydney and Melbourne – two markets that are traditionally heavily auction focused. However, according to Trusted Finance, this fall is not that significant, compared to the predicted figure of 20% of many experts in the industry when COVID-19 was raging in Australia since March.
Meanwhile, Adelaide, Hobart and Canberra remain resilient and have seen home values increase over the last three months, throughout the COVID period.
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