From www.abc.net.au: House prices in Australia remained steady in January, with a 0.2% decline in combined capital cities, mainly due to significant drops in Melbourne and Canberra, while regional areas saw a 0.4% increase.

Analysts indicate that potential interest rate cuts could revive home prices in some regions and signal a shift towards a buyers’ market, particularly in Melbourne, where values are 6.5% below their peak.

Rental prices grew by 0.4% nationally, with considerable increases in regional areas, highlighting a trend of more favourable conditions for first-home buyers amid slowing market activity.