{"id":553218,"date":"2026-06-25T09:46:09","date_gmt":"2026-06-25T09:46:09","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/553218\/"},"modified":"2026-06-25T09:46:09","modified_gmt":"2026-06-25T09:46:09","slug":"sydney-melbourne-home-prices-drop-on-australias-housing-downturn","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/553218\/","title":{"rendered":"Sydney, Melbourne Home Prices Drop on Australia&#8217;s Housing Downturn"},"content":{"rendered":"<p class=\"ArticleBodyText_articleBodyContent__17wqE typography_articleBody___5jDr\" data-component=\"paragraph\">Australia\u2019s housing downturn has wiped A$185 billion ($128 billion) off the value of the nation\u2019s top two markets so far this quarter, a result that\u2019s likely to weigh on the wealth effect that underpins consumer spending across the economy.<\/p>\n<p class=\"ArticleBodyText_articleBodyContent__17wqE typography_articleBody___5jDr\" data-component=\"paragraph\">Sydney prices dropped 2.7% between March 31 and June 25, erasing A$120 billion from the value of stock, while Melbourne declined 2.3%, shedding A$65 billion, according to calculations by Bloomberg Economics based on data from property consultancy Cotality and the Australian Bureau of Statistics. <\/p>\n","protected":false},"excerpt":{"rendered":"Australia\u2019s housing downturn has wiped A$185 billion ($128 billion) off the value of the nation\u2019s top two markets&hellip;\n","protected":false},"author":2,"featured_media":553219,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[174],"tags":[1128,236870,79,11902,184,179,18,16666,19,17,188,10486,5790,7338,5792,5644],"class_list":["post-553218","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-australia","tag-australian-bureau-of-statist","tag-business","tag-consumer-spending","tag-economics","tag-economy","tag-eire","tag-home-prices","tag-ie","tag-ireland","tag-markets","tag-melbourne","tag-new-zealand","tag-property-market","tag-sydney","tag-wealth"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116810113748447902","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/553218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=553218"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/553218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/553219"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=553218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=553218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=553218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}