{"id":507842,"date":"2026-06-23T22:04:12","date_gmt":"2026-06-23T22:04:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/507842\/"},"modified":"2026-06-23T22:04:12","modified_gmt":"2026-06-23T22:04:12","slug":"sydney-and-melbourne-house-price-downturn-shows-how-interest-rates-and-tax-changes-are-hitting-blue-chip-suburbs-hardest","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/507842\/","title":{"rendered":"Sydney and Melbourne house price downturn shows how interest rates and tax changes are hitting blue-chip suburbs hardest"},"content":{"rendered":"<p>House prices are falling fastest in Sydney and Melbourne\u2019s more affluent suburbs as the federal government\u2019s abolition of tax concessions for investors combines with the drag of successive interest rate rises to stifle demand, forcing sellers to accept lower offers.<\/p>\n<p>Suburbs on Sydney\u2019s northern beaches, such as North Curl Curl and Avalon Beach, and in the east, including Kensington, South Coogee and Bronte, have posted falls of up to 15 per cent since their peaks. Prices in blue-chip Mosman are down more than 12 per cent since its peak last year, according to data provider Cotality.<\/p>\n<p>Loading&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"House prices are falling fastest in Sydney and Melbourne\u2019s more affluent suburbs as the federal government\u2019s abolition of&hellip;\n","protected":false},"author":2,"featured_media":507843,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-507842","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/507842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=507842"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/507842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/507843"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=507842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=507842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=507842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}