Property data firm CoreLogic said home values across the country fell a further 1.2 per cent in October from a month earlier, with the median home price now at $721,018.
Prices fell in every capital city — and nearly every region as well — as the 2.5-percentage-point increase in rates by the Reserve Bank of Australia since May’s record low rate of 0.1 per cent began to bite.
In the capital cities, Brisbane saw the biggest monthly decline in October, of 2 per cent, while the pace of falls continued to ease back in Sydney (-1.3 per cent) and Melbourne (-0.8 per cent) as vendors chose not to sell in a falling market.
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