A report from Huffington Post on Canada. "Vancouver's epic housing meltdown has made news around the world, and with sales down by 31.6 per cent over the past year, people listing their homes are turning motivated. After years of what can only be described as a ludicrously strong seller's market, buyers are in the driver's seat today."

"And to chronicle this turnaround, a number of Twitter accounts have popped up, gleefully displaying homes sold for way below asking, or listed for well below their last sold or assessed price. Chief among them are Mortimer_1 and Vancouver Real Estate Flip Flops, where new examples of house resale flops appear constantly, to the chagrin of realtors."

"JUST SOLD: +$2M LOSS IN 11 MONTHS. 4448 Chaldecott St, Dunbar Area, West Side. Purchased May 2018 for $6.06M, $6.281M inc PTT. Listed Dec 2018 for $5.99M. 2019 Assessment $5.06M. Sold today for $4.12M, $3.996M after commission."

"The British Columbia Real Estate Association reported numbers showing the slowdown in Vancouver's market is now spreading to other parts of the province. Sales are down steeply, when compared to a year ago, at real estate boards in Chilliwack, the Fraser Valley and the Kooteny and Okanagan regions, as well as on Vancouver Island, including Victoria. Province-wide, the benchmark house price is down 5.4 per cent over the past year, to $687,720."

"'B.C. home sales continue to be adversely impacted by federal mortgage policy,' BCREA chief economist Cameron Muir said in a statement. 'The erosion of affordability caused by the B-20 stress test has created near recession-level housing demand despite the province boasting the lowest unemployment rates in a decade.'"

From News.com.au on Australia. "With Sydney and Melbourne's falling house prices infecting other capitals such as Brisbane, Darwin and Perth, some doomsayers say property prices could slump by as much as 50 per cent by 2022."

"'In some places, for example western Sydney, prices are 23 to 25 per cent down or more, but areas closer into the city, particularly houses, are probably only 3 to 5 per cent down,' said Digital Finance Analytics chief Martin North. 'Perth is down 15 to 18 per cent on average. And if you look at Darwin, it could be 25 to 28 per cent. So these are big movements, they really are.'"

"North believes the biggest falls will affect high-rise apartments. He says the Opal Tower drama is partly to blame, with valuations for some new builds coming in 50 per cent less than what people were quoted when they bought off the plan at the height of the price boom in 2017."

"Land values are also falling. Blue Ribbon Property's Edwin Almeid says land values in Sydney's western suburbs have already dropped 40 per cent, with the average square-metre land price in Bankstown Local Government Area falling from $1500 to $700-$800. 'Land has dropped in Lalor Park and Mount Druitt by around 40 per cent already,' Almeid says."

"Core Logic Australian head of research Cameron Kushner says Sydney has led the nation's property price falls, with the most expensive properties suffering the biggest falls. 'We're already seeing areas in Sydney, which have come back 20 per cent or more,' Kusher says."

"'If you look at Sydney, Pennant Hills and Epping have fallen by 26 per cent from its peak, Ryde and Hunters Hill by 19.6 per cent and Kogarah by 18.4 per cent whereas the lower Blue Mountains has only fallen by 1 per cent,' he says. 'In Melbourne, it's similar where the top end has dropped, with some areas coming back 18.1 per cent and others like Wyndham only 5.7 per cent."

"Real Estate Institute of Australia president Adrian Kelly says Sydney and Melbourne account for 70 per cent of the total value of Australia's real estate. 'What's different about this downturn is that it's been quite dramatic after such a huge upturn,' he says. 'The federal election campaign won't help things, particularly with taxation changes on the agenda.'"