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Australian housing prices falling at fastest rate since GFC
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Record high levels of debt have meant borrowers are more sensitive to higher interest rates. CoreLogic says over the last three months when the Reserve Bank started lifting official interest rates, dwelling values nationally have fallen 2 per cent. The median home is worth $747,000. There is a geographical divide though with capitals in the south east corner of the country, seeing quarterly declines. Sydney is seeing the sharpest fall in values in almost 40 years.
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