Australian Home Prices Fall for Sixth Month
Australian home prices dropped for a sixth consecutive month in September. High interest rates and stubborn inflation are driving the worst market downturn in thirty years.
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National home prices in Australia fell 1.1% in September, marking a sixth consecutive monthly decline on track for the worst downturn in three decades. The drop leaves values 5.2% below their peak as persistent inflation leaves little prospect of interest rate relief. The decline threatens the broader economy amid rising borrowing costs and stricter tax rules for property investors.
