Home values slide as RBA looms

Australia’s housing downturn is getting faster.

Home values have now fallen for seven straight months, with capital city prices declining at the fastest pace of any housing downturn in four decades.

But falling prices don’t automatically mean housing is becoming more affordable - borrowing capacity is shrinking, rents are still rising, and the equity picture looks very different depending on where and when you bought.

And hanging over all of today's data from Cotality - tomorrow’s RBA decision, with markets betting another rate hike is an almost certainty.

Carrington Clarke and ABC Business Reporter Steph Chalmers break it all down on ABC Business Daily.

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