Why it matters
The reported downturn affects Australian homeowners, buyers and property markets. The article identifies no direct U.S. effect.
HOUSING & REAL ESTATE • AUSTRALIA
Australian home values fall for a seventh month as borrowing costs weigh on demand
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Australian home values fell for a seventh consecutive month in October, with Brisbane and Perth leading declines, according to Cotality data cited by The Guardian. The report says capital-city prices are falling at their fastest pace in 40 years as higher mortgage rates deter buyers.
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