REA Group Senior Economist Eleanor Creagh says there has been a “noticeable” shift in the property market with the “exceptional pace of price growth and activity” cooling off last year.
Ms Creagh said last year was “overwhelming” a seller’s market.
“Now we’ve seen a lot more choice coming to the market this year, the market is slowing down and prices are starting to fall in some areas,” she told Sky News Business Reporter Edward Boyd.
“And in fact, in the capitals, Sydney and Melbourne, we see prices falling at the fastest rate since 1989.”
In partnership with realestate.com.au.