Melbourne and Sydney record largest house price falls across the country

Australia's national house prices rose just 0.3 percent in April, the slowest pace in over a year, as Sydney and Melbourne recorded declines of 0.6 percent and 0.5 percent respectively. Interest rate hikes and inflation are dampening the housing market, with further rate increases likely next month. Regional markets remain robust, rising 4.2 percent year-to-date.

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