REA Group Senior Economist Eleanor Creagh says Melbourne is where property price momentum is “weakest”.

“Of course, we know that higher property taxes are also playing a part into that weaker price growth momentum in Melbourne,” Ms Creagh told Sky News Business Editor Ross Greenwood.

“Very different conditions in Melbourne’s housing market.

“We have seen that prices have fallen in Melbourne for the past three months straight, so certainly weaker growth momentum in Melbourne.”

In partnership with realestate.com.au

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