SYDNEY (Reuters) – Australian home prices eased for a fifth straight month in September, weighed down by the two largest cities of Sydney and Melbourne, though the other six capital cities enjoyed an upturn in both values and listings.
Data from property consultant CoreLogic on Thursday showed home prices across the nation slipped 0.1% in September from a 0.4% decline in August and 0.6% in July.
The pace of monthly declines has been slowing as coronavirus-driven mobility restrictions have lifted across much of the country.
Prices were up 4.8% on September last year, reflecting the strength of the market ahead of the pandemic.
Values in the capital cities fell 0.2% in September, but were 4.9% higher on the year.
Melbourne was the major loser, with a monthly drop