The Australia Bureau of Statistics released figures today showing house prices in capital cities fell 2.4 per cent in the December quarter to record a total drop of 5.1 per cent in 2018.Sydney prices lost 3.7 per cent to the three months to December for the sixth consecutive quarter loss and were down 7.8 per cent for the year.The bureau’s chief economist Bruce Hockman said the falls in the nation’s two major property markets were based on a number of factors.
The drop was experienced outside the two major capitals with prices in Brisbane losing 1.1 per cent, Perth down 1 per cent, Darwin 0.6 per cent and Canberra edging 0.2 per cent lower.
Are we allowed to mention the bubble yet?
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