Cotality data reveals property prices are now falling in more than 90% of Australian suburbs, while analysts expect market downturn to continue

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The prospect of the steepest property market downturn in history will not stop the Reserve Bank from delivering a fourth interest rate hike as it battles to bring inflation back under control, economists say.

New data from Cotality revealed house prices are now falling in more than 90% of Australian suburbs, amid a perfect storm of higher borrowing costs, a weak economy, and a once-in-a-generation change in the tax treatment of property investors.

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43 Australians still missing, with concerns growing ‘every day, every hour’ that goes by, Wong says

The foreign affairs minister, Penny Wong, says there are still 43 Australian missing after the flooding in Nepal, saying the government holds grave concerns for their safety that only gets worse as the days go by.

This is such a distressing time and I know this is so difficult for the family and friends of those 43 Australians.

Every day, every hour, only increases our concern for those who have not been found and remain missing, and that is many Australians. … You can imagine how many families and friends are traumatised as a consequence.