Unit values in both cities are holding a little better. They dropped by 0.8 per cent in Sydney last month and by 0.6 per cent in Melbourne, for annual declines of 7.8 per cent and 3.7 per cent respectively.While the focus of policy makers has been on the nation's two largest markets, the February figures point to a more general slowdown.
"The February housing market results marked a subtle improvement in the rate of decline, however, the housing market downturn is now more widespread geographically and we aren't seeing any indicators pointing to the market bottoming out yet." Brisbane, where combined house and unit values are now down by 0.5 per cent over the past year, is in negative territory for the first time since 2012.
Source: Real Estate Daily Report (realestatedailyreport.net)
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