Home values across Australia have experienced their sixth consecutive drop in October, with Brisbane leading the downward trend.
According to real estate data provider CoreLogic, national dwelling values dipped another 1.2 percent in October, following a 1.4 percent drop in September and a 1.6 percent decrease in August.
House prices in Brisbane dropped at the fastest pace, with a two percent decrease for the month, followed by Sydney at 1.3 percent, Tasmania at 1.1 percent, Canberra at one percent and Melbourne at 0.8 percent.
While the pace of falls has eased in the past several months, CoreLogic’s research director Tim Lawless said it was too early to tell whether sharp price declines would end….