House prices are falling in Australia. That’s a good thing – if you believe housing is a basic human need | Saul Eslake

House prices in Sydney and Melbourne are down by 3.1% and 3.5% respectively, from their most recent peaks, according to the latest data from Cotality. Across Australia as a whole, house prices didn’t rise last month, the first time that has happened since January 2023. And the annual rate of…