Australian Capital City House Prices Suffer Record Quarterly Decline

Residential property values fell simultaneously across every Australian capital city in a record quarterly decline.

Property values dropped simultaneously across every major Australian urban center during the September quarter. Domain figures indicate a nationwide urban downturn occurring only twice in history. Sydney home values plunged to levels not seen in two years.

• The figuresSydney residential property values declined to an average of $1.66 million following the latest quarterly drop.
• The contextSimultaneous declines across all major urban centers have occurred on only one other recorded occasion.