Auction market hits stall speed as housing prices dive

Across the nation, the scope and breadth of housing price falls continue to expand, increasingly prompting forecasts of multi-decade record-high falls in housing prices.

The largest falls among the five major capitals so far this cycle have been in Sydney, where prices are down 6.4% from the peak.

At the other end of the spectrum, the least worst-performing major capital is Perth, where prices have declined 1.0% since the peak.