House prices falling at worse rate than 2008

Jul 1 2011 / 5:00 am Was written by Atwell & Co. Comments Off

House prices continue to fall.

House prices continue to fall.

MELBOURNE property values have continued their six-month downward slide, recording the fourth-largest drop across the country.

The median Melbourne house price lost 0.6 per cent in May, contributing to an annual decline of 2.9 per cent, according the latest RP Data-Rismark figures.

Across the country, capital-city home values fell by 0.3 per cent in the month.

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