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House prices fall in Melbourne and Sydney: Buyers benefit, rents expected to rise

HOUSING STOCK

Australia’s housing market has stalled Source: AAP / LUKAS COCH/AAPIMAGE

The cost of buying a home in Australia's two biggest cities - Sydney and Melbourne has dropped, according to the latest figures from research agency Cotality. And while house prices have started to fall, rents are expected to continue to rise. Treasurer Jim Chalmers says Treasury modelling shows house prices will continue to grow.


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By Kerrin Thomas

Presented by Anita Barar

Source: SBS



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The cost of buying a home in Australia's two biggest cities - Sydney and Melbourne has dropped, according to the latest figures from research agency Cotality. And while house prices have started to fall, rents are expected to continue to rise. Treasurer Jim Chalmers says Treasury modelling shows house prices will continue to grow.


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