Across Australia's capital cities, prices in the upper end of the property market is dropping rapidly, with experts warning it could indicate where the rest of the sector is headed.
Recent data from property analytics firm Cotality reveals that upper-quartile house prices — those in the top 25 per cent — have fallen at more than double the rate of entry-level ones in Sydney and Melbourne.
High-end homes in both cities have seen declines of more than 10 per cent in value from their peak. By contrast, those in the lower quartile have seen declines of just 3.9 to 5.4 per cent.
Read the full story at SBS News - Latest.
The Story So Far
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Sep 13
Why a vacuum at the top could drive Australia's housing market down
Experts warn the top-end downturn is beginning to spill over into lower-priced real estate nationwide.
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Sep 13
Why a vacuum at the top could drive Australia's housing market down
Experts warn the top-end downturn is beginning to spill over into lower-priced real estate nationwide.
This story was compiled from publicly available reporting and independently reviewed by BRRO News.