Housing prices plunge across major cities | 7NEWS
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Australian housing prices experienced their largest monthly decline since December 2022, with Melbourne falling 0.5% and Sydney dropping 0.5% in June alone. Melbourne recorded a 2.6% decrease and Sydney a 3.6% decrease across the second quarter of 2024, with clearance rates reaching lows not seen since the COVID-19 pandemic. The federal government faces a challenging balance between making housing more affordable for first home buyers while protecting existing homeowners and mortgage holders from declining property values. Subscribe and set 🔔 » https://7news.link/YTSubscribe | For the latest Australian news and breaking news alerts, connect with 7NEWS online: Visit » https://7news.com.au 7Plus » https://7plus.com.au/ 7NEWS Podcast » https://open.spotify.com/user/dm9fk9hzoe68ibpttheragdgi Facebook » https://www.facebook.com/7NewsAustralia TikTok » https://www.tiktok.com/@7newsaustralia Instagram » https://www.instagram.com/7newsaustralia/ X » https://x.com/7NewsAustralia 7NEWS comb
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