Australia records largest drop in house and unit values within one year, CoreLogic data shows

 Australia has recorded its largest decline in property values on record, with values dropping by 7.9 per cent in a year and the median value of dwellings in more than 200 suburbs dipping below $1 million. 

That is according to the latest CoreLogic data, which shows Sydney recorded the largest decline in values for houses and units, at 13.4 per cent. 

Meanwhile, values in Melbourne dropped by 9.6 per cent, fell by 11.6 per cent in Hobart, 6.8 per cent in Brisbane and 6.7 per cent in Canberra over the year to February. 

Over the past year values have risen by 5.1 per cent in Adelaide, 2.4 per cent in Perth and 2.9 per cent in Darwin. 

Read More: https://www.abc.net.au/news/2023-03-14/million-dollar-homes-australian-real-estate-corelogic-prices/102028862