The digital property portal Domain has just published its latest report on home prices in Australia.
It shows the cost of buying a house fell 4-point-9 per cent in the last quarter - which works out to be around $53,000.
But, chief of Research and Economics at Domain, Doctor Nicola Powell, says prices are still significant higher than they were before COVID-19 came along, with the median house price still around $1.02 million.
The director of economic research at PropTrack, Cameron Kusher, says while house prices are falling, rents are not going down as well.
He says that is because there have been fewer investors in the market, and more landlords turning to short term rentals, such as Air B-N-B.
The federal government's new budget includes 30,000 new social and affordable dwellings, as part of a $10-billion Housing Australia Future Fund.
Download the free SBS Radio app to listen live and on-demand or explore podcasts.
https://podfollow.com/sbs-japanese
Visit our Facebook for more Japanese stories and images.
