Australian house prices fell even further in March, driven by sliding home values being reported in Melbourne's most expensive areas.
Melbourne dwelling values dropped 0.8 per cent last month, with house values off by 1.1 per cent. Over the past 12 months, Melbourne house values have subsided by 12.4 per cent to be the worst performed of any capital.
Only Hobart, where values lifted by 0.6 per cent, and Canberra - up by 0.1 per cent - defied the trend. Values in NSW outside of Sydney have now dropped by 3.6 per cent over the past year while through the same period non-Brisbane parts of Queensland have seen a decline of 1.6 per cent.
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