HomeBeautiful
  • Open Homes
  • Bathroom
  • Kitchen
  • Outdoor
  • Decorate
  • Hamptons
  • Podcasts
  • Beach House
  • hacks
HomeBeautiful
  • Open Homes
  • Bathroom
  • Kitchen
  • Outdoor
  • Decorate
  • Hamptons
  • Podcasts
  • Beach House
  • hacks
Subscribe
Getting your coastal kitchen floor plan right
Watch 2:03

Getting your coastal kitchen floor plan right

{headline}

{headline}

This is how much you need to earn to buy a house in Australia right now

This is how much you need to earn to buy a house in Australia right now

Now is the time to buy a home in Sydney!

Now is the time to buy a home in Sydney!

This is what the Australian dream home looks like in 2018

This is what the Australian dream home looks like in 2018

Australia's most expensive suburb is not in Sydney or Melbourne

Australia's most expensive suburb is not in Sydney or Melbourne

{headline}

{headline}

4 signs that a property isn’t worth buying

4 signs that a property isn’t worth buying

Are duplexes the new Granny flat?

Are duplexes the new Granny flat?

Property prices continue to fall in Sydney and Melbourne

Property prices continue to fall in Sydney and Melbourne

{headline}

{headline}

Corona virus property predictions: Who wins?

Corona virus property predictions: Who wins?

Property report reveals Australia's Top 10 most in-demand cities

Property report reveals Australia's Top 10 most in-demand cities

5 ‘out of the box’ affordable housing ideas

5 ‘out of the box’ affordable housing ideas

How to spot a suburb that’s about to take off

How to spot a suburb that’s about to take off

The golden rules of marketing your property for sale

The golden rules of marketing your property for sale

How to create your dream-home wishlist

How to create your dream-home wishlist

5 savvy finance tips for homebuyers and property owners

5 savvy finance tips for homebuyers and property owners

  1. Home
  2. Open Homes

Aussie house values are plummeting

According to new data - by Laura Barry
  • 08 Aug 2018
Aussie house values are plummeting
Getty images

The Corelogic Hedonic Home Value Index report found that home values fell 0.6 per cent nationwide in July 2018, and are down 1.6 per cent in 12 months.

The downturn in the property market isn’t just restricted to Sydney and Melbourne either (although, the decline has hit properties in Melbourne and Sydney the hardest). Values slipped in five of the eight capital cities just in the past three months, while regional areas where the market has generally been more resilient have also seen a drop in value.

Some of the worst affected places are Perth and Darwin, where prices have fallen 2.3 per cent and 6.2 per cent respectively over the past 12 months.

However, CoreLogic warns that housing affordability is still a big issue in Australia, and that prices would have to fall much further before they reach an adequate level.

"We can't see any factors that may halt or reverse the housing markets trajectory of subtle declines over the second half of 2018," Corelogic head of research Tim Lawless told the Australian Financial Review.

Economists are now warning that the worst is yet to come, anticipating a faster decline in house prices than initially expected, citing their original estimate of a 12 per cent fall as ‘optimistic’, while CoreLogic predicts a rise in interest rates thanks to higher funding costs.

This article originally appeared on Better Homes and Gardens.

You might also like:

Property report reveals Australia's Top 10 most in-demand cities

Buy a whole town for half the cost of a Sydney terrace house

How to increase the value of your home in a week

  • Open Homes
  • Lifestyle
Laura Barry
Laura Barry
Laura Barry is a writer, bookworm and interior design enthusiast with a love for reporting on all things homes and lifestyle. When not tapping away at her keyboard, Laura can be found making endless cups of tea or perusing the shelves of Sydney’s many bookstores.

FREE Miranda Kerr Mug-SAVE 31%

by Royal Albert, when you subscribe

Subscribe Now
FREE Miranda Kerr Mug

FREE Miranda Kerr Mug-SAVE 31%

by Royal Albert, when you subscribe

Subscribe Now
FREE Miranda Kerr Mug

Featured Properties

Powered By

Recommended to you

Getting your coastal kitchen floor plan right
Watch 2:03

Getting your coastal kitchen floor plan right

{headline}

{headline}

This is how much you need to earn to buy a house in Australia right now

This is how much you need to earn to buy a house in Australia right now

Now is the time to buy a home in Sydney!

Now is the time to buy a home in Sydney!

This is what the Australian dream home looks like in 2018

This is what the Australian dream home looks like in 2018

Australia's most expensive suburb is not in Sydney or Melbourne

Australia's most expensive suburb is not in Sydney or Melbourne

{headline}

{headline}

4 signs that a property isn’t worth buying

4 signs that a property isn’t worth buying

Are duplexes the new Granny flat?

Are duplexes the new Granny flat?

Property prices continue to fall in Sydney and Melbourne

Property prices continue to fall in Sydney and Melbourne

{headline}

{headline}

Corona virus property predictions: Who wins?

Corona virus property predictions: Who wins?

Property report reveals Australia's Top 10 most in-demand cities

Property report reveals Australia's Top 10 most in-demand cities

5 ‘out of the box’ affordable housing ideas

5 ‘out of the box’ affordable housing ideas

How to spot a suburb that’s about to take off

How to spot a suburb that’s about to take off

The golden rules of marketing your property for sale

The golden rules of marketing your property for sale

How to create your dream-home wishlist

How to create your dream-home wishlist

5 savvy finance tips for homebuyers and property owners

5 savvy finance tips for homebuyers and property owners

HomeBeautiful
  • About Us
  • Subscribe Today
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
HomeBeautiful Magazine Subscribe
  • About Us
  • Subscribe Today
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

Brands

  • Beauty Crew
  • marie claire
  • Who

Our Network

  • Better Homes and Gardens
  • BHG Shop
  • New Idea food
  • New Idea
  • Girlfriend
  • That’s Life
  • All Recipes
  • Practical Parenting
  • 7plus
  • 7News
  • Health Engine
  • The West Australian
  • Perth Now
  • Airtasker
  • Society One
  • Starts at 60
© 2021 Are Media PTY LTD
Get more from

Magazine Subscription Offer

FREE Miranda Kerr Mug-SAVE 31%

Shop This Offer
FREE Miranda Kerr Mug