Australia’s property market is experiencing a deepening downturn, with house prices falling for the fifth consecutive month. Data from CoreLogic reveals that 93% of suburbs across the nation’s capital cities are now affected by this decline. This widespread effect indicates a significant shift from the previous more localized drops in value. The continued falls suggest increasing pressure on homeowners and potential buyers alike. Experts attribute this trend to rising interest rates and broader economic uncertainty impacting buyer confidence. Further declines are anticipated unless economic conditions improve and lending rates stabilize. This marks a substantial change from recent years of significant property value increases.