House prices in Australia have fallen 1.3% since September's market peak and declines have extended to nine consecutive months. Data from tracking firm CoreLogic showed prices over the past 12 months slid 7.7% in Darwin, the worst performer, and 4.5% in Sydney, raising the possibility of homeowners in both cities facing negative equity. The latest figures show that median house price growth has slowed significantly compared with a year ago, falling by more than half on average across all capital cities.
House prices in Australia have fallen 1.3% since September's market peak and declines have extended to nine consecutive months. Data from tracking firm CoreLogic showed prices over the past 12 months slid 7.7% in Darwin, the worst performer, and 4.5% in Sydney, raising the possibility of homeowners in both cities facing negative equity. Hobart remained the country's fastest-growing market, with prices rising 12.7%.