Australia’s housing market is definitely in a downturn – but let’s put that in perspective | Hal Pawson

While tax reforms and interest rate hikes have resulted in a slide in property prices across Australia, is the market truly in ‘freefall’? With national property values down by 5. 2% in September from their March peak, Australia’s housing market is in a distinct downturn. This has sparked concerns voiced by the opposition leader, Angus Taylor, of a housing market “ in freefall ”. Translated into dollar terms, using the Domain property price series , the price of a typical home has dropped to about what it would have fetched one year ago.