Housing Decline Picks up Speed Again

An aerial view of suburban houses in Sydney, Australia, on April 22, 2020. Ryan Pierse/Getty Images

Australia’s property downturn has again picked up pace, but Melbourne is the only capital city getting close to erasing the entirety of its pandemic upswing.

Home prices fell another 1.1 percent in December, CoreLogic data shows, amounting to a 5.3 percent total decline in 12 months.