The housing boom is over as prices begin to fall

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

Pre-Christmas boost for cotton communities

premium_icon Pre-Christmas boost for cotton communities

Two Central Highlands organisations receive a funding boost for local projects.

CAN YOU HELP? Plea for information on deadly hit and run

CAN YOU HELP? Plea for information on deadly hit and run

Appeal for witnesses to the hit and run that killed Stephen Moore.

Warm weekend for the Highlands

Warm weekend for the Highlands

Current conditions will remain for the next few days.