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Sydney and Melbourne inner suburbs saw property drops of 4.5%–7.1% due to high supply, affordability, and policy changes, though broader markets remain stable.
Sydney and Melbourne inner-city suburbs including Milsons Point, Kirribilli, Armadale, Prahran, and Carlton have seen property values decline this year, with drops ranging from 4.5% to 7.1% since late February.
These falls are attributed to high unit concentrations, limited growth potential, affordability issues, and shifting market dynamics such as higher stamp duties on international buyers and increased land taxes.
Some areas experienced corrections after pandemic-driven price spikes.
Despite localized declines, broader markets in both cities remain stable, with stronger growth in mid-tier cities.
Experts expect gradual recovery in affected suburbs due to long-term population growth and lifestyle appeal.
Los suburbios interiores de Sídney y Melbourne vieron caídas de propiedades del 4,5% al 7,1% debido a la alta oferta, la asequibilidad y los cambios en las políticas, aunque los mercados más amplios permanecen estables.