Australia Economy: Housing Slump Deepens as RBA Rate Rises, Budget Changes and Middle East Conflict Converge

House prices have fallen for four consecutive months, with the nation's median home price now $19,000 below its March peak at $928,000. The downturn, driven by the RBA's three rate rises and May budget tax changes, has spread from Sydney to Brisbane, Adelaide, and Perth, erasing months of gains across the property market.

RBA Gets a Surprise Assist from Falling Prices

The Reserve Bank's three rate hikes since February were designed to slow the...