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The New Daily
The New Daily
Matthew Elmas

Property prices fall at fastest rate in 39 years as rate hikes bite

Tim Lawless CoreLogic Interest Rates Australia Brisbane
Australia's property downturn is accelerating as regional prices begin to mirror falls in big capitals, new data shows. Photo: TND

Australian property prices had their biggest single-month decline since 1983 as rising interest rates hit home values.

Prices fell 1.6 per cent Australia wide in August, with every capital except for Darwin recording losses, CoreLogic data revealed on Thursday.

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