$40,000 drop in average Australian home value over winter

Cotality data shows the average Australian house value fell by $40,000 during the winter months. The decline will create an economic problem for the Reserve Bank and a political issue for Prime Minister Albanese’s government. The figures highlight a cooling in the housing market that could influence monetary policy decisions and raise questions about the government's housing strategy. The drop underscores the sensitivity of the property sector to broader economic conditions and the potential need for policy responses.