Sydney and Melbourne home costs have formally chilled, Corelogic says as it releases its own August property worth indicator.
There clearly was no move at Sydney house costs in August even though Melbourne’s house prices were up 0.5 per cent. Brisbane also enrolled a non 0.2 per cent.
House prices stayed flat.
“It is obvious that the market has lost lots of steam. When we see the continuation of this movement we will observe that a negative trend soon,” Corelogic head of research Tim Lawless explained.