Australian house prices continue their slide
- In Feb every capital city (except one, Hobart) saw house prices lower
- Some price falls regionally also, these ares had been holding up
Tim Lawless, CoreLogic head of research remarks on today's report:
- we are seeing weakening housing market conditions across regions where home values were previously rising at a sustainable pace and economic conditions are relatively healthy … a sign that tighter credit conditions are having a broad dampening effect on buyer activity
- February housing market results marked a subtle improvement in the rate of decline
- however the housing market downturn is now more widespread geographically and we aren't seeing any indicators pointing to the market bottoming out yet
