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The Guardian - AU
The Guardian - AU
National
Caitlin Cassidy

House prices fall as Sydney owners make loss on resales to escape high interest rates

Tim Lawless Sydney Interest Rates Darwin Australia
Aerial photography of Sydney skyline
Sydney has experienced the biggest drop in housing prices of any region in Australia as higher interest rates bite. Photograph: Andrew Merry/Getty Images

Australian house prices are continuing to fall as property owners in Sydney make a loss on resales in order to escape high interest rates, new data has shown.

Property prices fell a further 1.4% in September. It is the fifth consecutive month values have fallen – in all capital cities except Darwin – after six months of rate hikes.

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