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The New Daily
The New Daily
Business
Sezen Bakan

Sydney and Melbourne lead accelerating housing downturn

Melbourne Sydney Tim Lawless Interest Rates Shane Oliver Australia Brisbane Commonwealth Bank CoreLogic RBA
House prices are set to tumble around the country this year. Photo: Getty

Sydney and Melbourne are leading the tumble as Australia’s house prices sink further amid rising interest rates and sinking consumer confidence.

Figures released by CoreLogic on Friday show Sydney and Melbourne had the nation’s biggest house price slumps in June – down 1.6 per cent and 1.1 per cent respectively.

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