Australia Home Prices Fall for Seventh Month, Led by Big Cities
- Sydney, Melbourne continue to lead declines as boom tails off
- Regional towns outpace capital cities amid tight affordability
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Australia’s property prices fell for a seventh straight month in April, as the heat continues to come out of residential markets in the nation’s two largest cities.
National housing prices fell 0.1 percent in April from March, CoreLogic Inc. data released on Tuesday showed. The pace of decline in Sydney’s once-sizzling market quickened, with values falling 0.4 percent last month, to be down 3.4 percent from a year earlier. Prices in Melbourne also fell 0.4 percent last month.