SYDNEY, Sept. 1 (Xinhua) -- Australia's median house price fell for a fifth consecutive month in August, with Sydney leading the downturn, according to data released on Tuesday.
Property data firm Cotality said that Australia's median dwelling value fell by 0.9 percent in August to 912,885 Australian dollars (about 654,415 U.S. dollars) following a decline of 0.7 percent in July.
Cotality said that the national median dwelling value has fallen for five consecutive months and is now 3.6 percent below the record-high set in March.
Across all capital cities, median values were down 1.1 percent in August and by 3.7 percent on a quarterly basis.
The report said that home values fell across 93 percent of capital city suburbs over the three months from June to August.
Sydney, Australia's most lucrative housing market, had the biggest downturn of any capital city, with the median home value in the city down 1.4 percent in August and by 7.1 percent since February.
"The combination of a sharp drop in demand and higher than average advertised stock levels is weighing more heavily on Australia's largest housing market," Tim Lawless, Cotality's Research Director, said in a media release.
Cotality noted that its quarterly estimate of national home sales was tracking 15.5 percent lower than at the same time in 2025 and 11.5 percent below the five-year average.
Over the four weeks to the end of August, capital city real estate listings were 24 percent higher than in 2025 and 8 percent above the five-year average. ■