Australia Property

[specuvestor]

Property values in Sydney fell for the seventh straight month in March as the once-booming housing market continues to cool.
Prices in the nation’s biggest city declined 0.3 percent last month and are down 2.1 percent from a year earlier, CoreLogic Inc. data released Tuesday show. By contrast prices in Hobart rose 1.7 percent and are up 13 percent on the year.
A combination of tighter mortgage-lending standards, regulatory restrictions on investor loans and affordability constraints are weighing on the Sydney market. While the pace of decline has slowed, few predict a quick rebound.
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-Bloomberg