Australian home prices have recently experienced their slowest growth in almost two years due to declines in major markets like Sydney and Melbourne.
In November, Sydney's prices fell by 0.2%, marking the second consecutive monthly decrease. Melbourne has seen an even more significant downturn, with values dropping in 10 out of the last 12 months.
Overall, prices in major cities rose by just 0.1% in November, reflecting concerns about affordability that are impacting buyer demand. This indicates a notable shift in the housing market as economic pressures continue to affect home values across Australia.