House prices in the June quarter fell slightly off the back of three interest rate rises and the changes to the capital gains tax discount and negative gearing. But prices remain extremely high.
In the June quarter the total value of Australia’s housing fell $34bn. Sounds like a lot? In percentage terms it was just 0.3%. That’s because in the June quarter the total value of Australian housing was $12.18tn. And here’s the kicker: that is $948bn more than it was a year ago.
