Now economists expect that property prices in Melbourne and Sydney will fall by 10% compared to the levels in mid-2017 before they begin to recover in the context of regulatory changes and more stringent lending conditions that continue to change housing and credit markets.
According to data published on June 19, prices for residential real estate fell by 0.7% nationwide, while in Sydney - by 1.2%. There, the price has been decreasing consistently for the last three quarters, for the first time since March 2012.