Homes losing $9000 a month as property downturn spreads to Brisbane and Perth
National values fall 1.2% in October, seventh straight monthly drop, as RBA tipped to raise rates again on Tuesday
The nationwide slump in house values has spread to Brisbane and Perth, with no signs of an end to the downturn amid fears it could worsen if the Reserve Bank pushes ahead with another interest rate hike this week. Figures from property data firm Cotality show national property values fell 1.2 per cent in October, the seventh consecutive monthly decline, leaving median values down 6.7 per cent since March, a drop of $63,400, or more than $9000 a month.