Property Market Easing With Falls Across Four Capitals

Australia’s housing market is no longer galloping at full tilt in welcome news for home buyers. Property data firm CoreLogic recorded a 0.3 percent lift in the national home value index, the same result as the three months prior but with falls recorded across four capital cities. Sydney joined that list for the first time in nearly two years, alongside Canberra, Darwin, and Melbourne. CoreLogic’s research director Tim Lawless said Sydney would likely follow a similar trajectory to Melbourne, which has been in a shallow correction as listing numbers have improved. “Total listings are now 13.2 percent above the previous five-year average in Sydney and 13 percent higher in Melbourne,” he said....