Australian home prices fell a further 0.7 per cent last month and are now down nearly 7 per cent from their peak, as the downturn extends beyond Sydney and Melbourne.
Five of the eight capital cities have had falling prices over the past year, as has regional Australia
The latest February figures from CoreLogic show Darwin and Perth are once again leading the monthly declines in prices, slumping 1.7 and 1.5 per cent respectively. Even the Brisbane market, which did not experience the same steep run-up in prices as the other two big capitals on the east coast has seen prices fall over the month, quarter and past year, although the declines are modest.
Prices in Canberra and Adelaide have been relatively flat over the past few months, and only modestly higher over the past year.
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