‘Buyers have choice’: Melbourne house prices fall for the first time since 2020

 Melbourne’s pandemic property boom has come to an end, as new figures show house prices fell for the first time since the June quarter of 2020 amid jitters over rising interest rates.

Melbourne house prices fell 0.7 per cent to a median $1.092 million in the March quarter, the latest Domain House Price Report, released on Thursday, shows. Unit prices shed 2.2 per cent to a median of $578,775 over the quarter, their steepest fall since 2017.

More homes have been listed for sale, offering greater choice for buyers, while new caps on home lending and the prospect of rising interest rates are limiting how much buyers will pay.

Read More: https://www.smh.com.au/property/news/buyers-have-choice-melbourne-house-prices-fall-for-the-first-time-since-2020-20220426-p5ag9p.html



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