House prices in rich suburbs of Sydney, Melbourne and Perth falling at steeper pace, CoreLogic says

House prices in rich suburbs of Sydney, Melbourne and Perth falling at steeper pace, CoreLogic says

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House prices in wealthy, waterfront suburbs of Australia’s big cities are falling at a faster rate during the coronavirus downturn. Upmarket areas of Sydney, Melbourne, Brisbane and Perth suffered much steeper than average falls in June, CoreLogic data showed. CoreLogic’s head of research Tim Lawless said Australia’s COVID-induced economic contraction was hurting richer areas more,
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