Reported at michaelwest.com.au: Australia’s property market has seen its first monthly decline in national home values in nearly two years, with a 0.1% fall recorded in December following a flat November.

Research released by CoreLogic indicates that the downturn is a result of constrained borrowing and cost-of-living pressures, leading to a shift in buyer demand towards lower-priced markets.

Despite the easing of rent increases, which rose 4.8% over the year—the smallest annual jump since early 2021—affordability remains a significant concern.