Australia Property Prices Slashed
Property price-cutting has nearly doubled and tripled in Australia’s two largest cities, new data shows, signalling a slowing housing market. More than 13 per cent of property listings in Sydney and 10.7 percent in Melbourne had their prices discounted in April. This was up from 6.7 and 3.7 percent respectively from April 2019, equating to nearly double the amount of discounts in Sydney and almost three times the amount in Melbourne. All capital cities across the country saw a higher percentage of properties being discounted in April 2020 compared with April 2019.
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