House prices slide across Australia as Middle East conflict and tax changes begin to bite

Australian house prices are experiencing a significant downturn, with declines recorded in Brisbane, Adelaide, and Perth as the market contraction spreads nationwide. The nation's median home price has dropped approximately $19,000 from its March peak, with new data from Cotality showing widespread price falls across most regions since May. The decline is attributed to factors including the Middle East conflict and recent tax changes.