Australian home values see biggest fall since 2022

Australian home values fell by 0.4% in June 2024, marking the biggest monthly decline since 2022. Sydney and Melbourne led the drop with falls of at least 1%, while Brisbane and Perth experienced sharp slowdowns in growth and Adelaide's market flatlined. Housing Minister Claire O'Neill and Shadow Attorney General Michaelia Cash debate the causes and impacts of the decline, with O'Neill attributing the changes to interest rates and defending the government's budget tax reforms aimed at levelling the playing field for first home buyers, while Cash criticises the government for creating market uncertainty and reducing housing completions to a 10-year low.See omnystudio.com/listener for privacy information.