Australian home values drop for 7th straight month as rates rise

Australian home values fell for the seventh consecutive month in October, with capital city prices now declining at the fastest rate in 40 years. Rising mortgage rates are pushing buyers out of the market. The downturn is shifting away from Sydney and Melbourne, with Brisbane and Perth leading the latest declines, according to Cotality data. Despite the drop, most homeowners still hold sizeable gains from earlier strong growth.

Would falling home values make you more or less likely to buy in the next year?

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