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The New Daily

National

Matthew Elmas

‘It’s over’: The COVID property boom is ending as prices fall in Sydney and Melbourne

Melbourne Sydney Andrew Wilson Covid-19 CoreLogic Saul Eslake

New data shows the property market is starting to turn ahead of an expected rise in interest rates. Photo: TND

The property boom that sent house prices to stratospheric levels during COVID appears, finally, to be ending – at least in Melbourne and Sydney.

CoreLogic home value data published on Friday revealed the first fall in property prices across Australia’s two largest cities since August 2020.

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