Home values in Australia have fallen by 5 per cent from their peak in March, with Sydney and Melbourne leading the downturn.

The national property slump has stretched to six months after a 1.1 per cent fall in September, Cotality’s Home Value Index shows. Values fell in every capital city except Darwin last month.

Home values in Australia fell for the sixth straight month in September.Wolter Peeters

Sydney’s property market has taken the biggest hit, with prices now 8.6 per cent below...

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