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.

Average price of home rose 0.2% month on month in August to £275,465 as market awaits interest rate vote

• Houses near top state secondary schools ‘cost £40,000 more’

UK house prices increased for the first time in four months in August, according to a leading index, as buyers and sellers remained in a “holding pattern” before an expected increase in interest rates later this year.

The average price of a British home rose 0.2% month on month in August to £275,465, the first increase since April, according to Nationwide. Analysts had forecast a 0.1% rise.

Youth club closures, unaffordable housing and social media cited as factors contributing to a sharp decline in wellbeing

The number of young people with no close friends has risen fivefold since 2014 as a result of growing up in a “bleak world” dominated by austerity, the pandemic and social media.

New research paints a sobering picture of how 11- to 24-year-olds in England are increasingly lonely, isolated and “disconnected” from themselves, peers and wider society.

Premium of nearly 10% paid by housebuyers comparable with cost of a cheaper private school over seven years

A house near a top state secondary school costs an extra £40,000 on average, according to research that reveals education premiums that rank alongside some private school fees.

The average property in a postcode district that includes a top 50 state secondary commands a price tag of £415,791, compared with £375,217 across the wider local authority areas in which those schools are located, a UK-wide analysis by the estate agent Yopa found.