HOUSE prices in Australia's capital cities fell 1.1 per cent in May, the latest sign Australia's booming property market has finally peaked.

The fall was led by declines in Sydney and Melbourne of 1.3 per cent and 1.7 per cent respectively, according to CoreLogic's latest home value index.

Brisbane and Adelaide notched up slight gains of 0.3 per cent and 0.8 per cent, while Perth and Canberra fell 0.4 per cent and 0.1 per cent. The biggest falls were in Hobart and Darwin, which were down 4.8 per cent and 3.5 per cent on the previous month.

News Corp Australia


O’Dowd a ‘fighter’ for Flynn: Deputy PM’s tribute

Premium Content O’Dowd a ‘fighter’ for Flynn: Deputy PM’s tribute

Federal Member for Flynn Ken O’Dowd has announced he will be retiring at the next...

Gladstone breast feeding group celebrate mothering week

Premium Content Gladstone breast feeding group celebrate mothering week

Find out all about the Australian Breastfeeding Association Gladstone group this...

Unlicensed driver ‘unaware’ of suspension period

Premium Content Unlicensed driver ‘unaware’ of suspension period

The woman said she had not updated her address in 12 months.