Australian property prices ease for the first time in nearly 12 months due to coronavirus lockdown

Australian home prices fell in May for the first time in almost a year as the impact of the coronavirus shutdown rumbles through the economy.Property values across the state and territory capitals fell 0.5 per cent last month, the first decline since June 2019, according to CoreLogic data released on Monday. Among the biggest falls were Melbourne, where prices dropped 0.9 per cent, and Perth, which was down 0.6 per cent.While the relatively mild declines during the height of the lockdown will…

from South China Morning Post https://www.scmp.com/news/asia/australasia/article/3086910/australian-property-prices-ease-first-time-nearly-12-months