British media: Australian house prices have declined for 3 consecutive months, and Sydney has encountered the worst decline in 40 years

[Global Times Comprehensive Report] Australian housing prices go out!According to Reuters on August 1, in July, Australia's house prices have declined for three consecutive months, and Sydney has encountered the worst decline in 40 years.According to data released by Australia Real Estate Consulting Corelogic on Monday, the average property price of the country fell 1.3%in July.The weak housing market in Australia is mainly concentrated in big cities. Among them, Sydney has fallen by 2.2%, Melbourne is 1.5%, and Hobart and Khamira have fallen by 1.5%and 1.1%, respectively.

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The director of the consulting company Tim Laulis said: "The real estate market in Australia has fallen for three months. From the perspective of price decreased, the global financial crisis in 2008 and the plunge in the early 1980s plummetedSimilarly. "Analysis believes that this is mainly caused by Australians' gradually shifting from urban to rural life. In order to curb the continuous soaring inflation, the bank's operations increased interest rates for three consecutive months, which also objectively increased people's loan costs.

Source: Global Times

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