The country’s housing market is on track for its steepest downturn in four decades, with the median property value in Sydney falling more than $112,000 since a February peak and declines in other major capital cities accelerating as interest rates rise and buyers steer clear of auctions.
Residential real estate values slid 1.1 per cent across the country in September, and were down 1.5 per cent and 1.4 per cent in Brisbane and Sydney respectively, figures published by data analysis firm Cotality show.
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