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Australian Home Prices Fall for Fifth Straight Month Amid Rate and Inflation Fears

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Australian home prices declined for the fifth consecutive month in August, with Sydney and Melbourne among the hardest-hit cities. Both cities are now approximately seven percent below their peak values, reflecting the broader national trend. Rising borrowing costs and persistent inflation are dampening buyer demand across the country. Analysts warn that prices could fall as much as ten percent from their highs before stabilising. The ongoing housing downturn is expected to weigh on overall economic growth and consumer spending.

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