Key facts
- Australian home prices declined for the fifth consecutive month in August.
- National home values decreased by 0.9% compared to July.
- The ongoing downturn in the property market is a concern for economic growth.
Australian home prices continued their decline in August, marking the fifth consecutive month of falling values. The national property market saw a 0.9% decrease from July, indicating a deepening downturn that poses a threat to the country's economic growth.