Australian Housing Prices Continue 5th Consecutive Month of Decline

A real estate sign is seen at property in Marrickville in Sydney, Australia, on Sept. 6, 2022. Lisa Maree Williams/Getty Images

Home values across Australia dropped for the fifth month in a row in September as interest rate hikes continued to affect the housing market.

According to real estate data provider CoreLogic, its national home value index fell 1.4 percent in September, following a 1.6 percent decrease in August.