August was a biggie for home prices… According to analysts CoreLogic, they fell by 1.6% in the month – that’s the biggest national monthly decline since 1983. Prices fell across every capital city except Darwin (0.9%), with Sydney leading the pack with (-2.3%), and then we have Brisbane (-1.8%), Melbourne (-1.2%), Canberra and Hobart (-1.7%), Perth (-0.2%) and Adelaide (-0.1%). In regional Oz, there was a fall of 1.5%. Analyst Eliza Owen says would-be buyers are freaked out by higher interest rates and cost of living pressures. Those factors have led to a 10.7% drop in the number of first home buyers in July, the Bureau of Stats says. And further falls in the property market are expected if the Reserve Bank continues to raise interest rates. We’ll find out on Tuesday after the central bank’s board meets.