Falling home prices in Sydney and Melbourne might just have signalled the end of Australia's 30-year housing super cycle.
Dwelling values fell 0.9 per cent in Sydney and 0.8 per cent in Melbourne during May, according to data from research agency Cotality.
Along with rising rates and poor affordability, the tightening of property tax concessions in the budget and a political shift towards lower migration might mean a decades-long upswing was nearing a close, AMP chief economist Shane Oliver said.
