- Domain provides a housing outlook for Australia, forecasting value changes across Sydney, Brisbane, Canberra, Melbourne, and Perth.
- Market dynamics are distinct across major cities Perth, Sydney, and Melbourne.
- Australian cities like Perth, Sydney, and Melbourne showed strong median value growth, while the Middle East conflict caused a market slowdown.
Sydney and Melbourne lead the national property market downturn, citing geopolitical conflict as a factor.
1 report, 1 independent
Updated Aug 3
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What happened
Sydney and Melbourne lead the national property market downturn, citing geopolitical conflict as a factor.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Mark Bouris discusses the impact of Middle East geopolitical issues and rising crude prices on the Sydney and Melbourne housing markets, citing Westpac's chief economist.Sub-event
Both Sydney and Melbourne are leading the property market downturn, linked to geopolitical conflict.1 source
Keep exploring
The entities involved
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Sydney
capital city of New South Wales, Australia
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Melbourne
capital city of Victoria, Australia
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Middle East
geopolitical region encompassing Egypt and most of Western Asia, including Iran
Related events
- Property market downturns are being observed in Sydney, Melbourne, and Adelaide.
- Redman comments on Australian housing trends, noting the housing market downturn in Melbourne and high property interest in both Melbourne and Perth.
- Ray White has provided analysis indicating that both the Sydney and Melbourne property markets are leading the housing downturn following the budget.
- Market decline in Melbourne is affecting national trends, while Brisbane market data contributes to national housing statistics.
- Both Parramatta and Melbourne markets are currently experiencing significant value declines.