GgoogleAU first seen 7 h ago, last 3 h ago, peak #1

Australia braces for sharpest property downturn in decades

Original: australian house prices

Australian house prices are falling at the fastest pace in decades, with national property values down 5.2% and forecasts of a further 15% plunge. Sydney and Brisbane are being hit hardest, and analysts warn the downturn could be the biggest in 40 years, raising the risk of a recession. Homeowners and buyers are watching closely as the market slows.

Why now: Warnings of the biggest property downturn in 40 years and recession risk are fresh concerns for Australian homeowners.

AustraliaSydneyBrisbaneABC NewsThe Guardian

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Evidence

• Australia faces 'biggest property downturn in 40 years', raising recession risk · ABC News & Headlines – Australian Broadcasting Corporation
• Property values set to plunge 15 per cent · The Australian
• Brisbane and Sydney hit hardest by falling house prices as 5.2% shaved from property values nationwide · The Guardian

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