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Unit prices fall in many city suburbs amid house-led real estate boom

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Despite house prices rising at their fastest pace in 32 years, apartments in Australia’s most oversupplied cities aren’t getting as much love from buyers.

In some areas, unit prices have tumbled in the past year and still haven’t recovered from their COVID-19 slump — with Sydney and Melbourne the worst hit capitals.

Those cities, in particular, have relied heavily on international students and foreign workers being able to pass freely through Australia’s borders, to rent…



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