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Nearly 5% decline in house prices in September quarter: Domain Price Report
New housing construction is seen at Marsden Park, west of Sydney, Wednesday, October 26, 2022. Australians struggling to break into the property market are set to benefit from a $350 million affordable housing scheme included in the federal budget. (AAP Image/Dan Himbrechts) NO ARCHIVING Source: AAP / DAN HIMBRECHTS/AAPIMAGE
Digital property portal Domain recently published its latest report on Australian home prices. According to the report, the cost of buying a house dropped by 4.9 per cent in the last quarter. According to Domain's Chief of Research and Economics Dr Nicola Powell, prices are still significantly higher than before COVID-19 arrived, with the median house price staying around $1.02 million.
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