Politics

‘A lot more choice’ coming to property market


REA Group Senior Economist Eleanor Creagh says there’s been a “noticeable” shift in the property market with the cooling off of the “exceptional pace of price growth and activity” seen last year.

Ms Creagh said last year was “overwhelmingly” a seller’s market.

“Now we’ve seen this year a lot more choice coming to the market, the market’s slowing, prices beginning to fall in some areas,” she told Sky News Business Reporter Edward Boyd.

“And in fact, in the capital cities, Sydney and Melbourne, we’re actually seeing that prices are falling at the fastest pace since 1989.”

In partnership with realestate.com.au.



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