Australia’s housing crisis may be starting to ease as home prices fall in four capital cities

Four capital cities recorded falls in dwelling prices for the September quarter, including Melbourne where prices sank 1.1%, CoreLogic says. Photograph: jax10289/Getty Images/iStockphoto

Australia’s housing crisis may be starting to ease with dwelling price rises tapering off and rents increasing at their slowest pace in four years, data groups say.

Property values increased 0.4% in September, close to the 0.3% rise recorded for both the previous two months, CoreLogic reported. PropTrack’s housing index was basically flat, rising just 0.04% for the month.