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Sports

Max Verstappen wins Hungarian Grand Prix, Charles Leclerc ‘disaster’

Post author By mangakiko
Post date August 1, 2022
No Comments on Max Verstappen wins Hungarian Grand Prix, Charles Leclerc ‘disaster’

Formula One champion Max Verstappen overcame a spin and his worst starting spot of the season to win the Hungarian Grand Prix. His eighth win of the season pushed Verstappen’s lead to 80 points over Charles Leclerc as F1 heads into its midseason break.

Even though his advantage keeps increasing, Verstappen is not thinking ahead.

“It’s of course a great lead,” he said. “But if you want to fight for championships, you can’t afford many mistakes.”

THE MOLE: Blunder ruining ‘poor’ million-dollar star

READMORE: The ‘positive’ in nightmare Panthers scenario

READMORE: England women claim Euro title with win over Germany

Charles Leclerc suffered more troubles during the Hungarian Grand Prix. (Getty)

Australia

Voice to Parliament referendum must be kept simple to succeed, says Indigenous Australians Minister

Post author By mangakiko
Post date August 1, 2022
No Comments on Voice to Parliament referendum must be kept simple to succeed, says Indigenous Australians Minister

Burney gestures with her hand and looks serious while standing inside parliament.

Indigenous Australians Minister Linda Burney says she is confident the nation is ready for a referendum to decide whether to establish an Indigenous Voice to Parliament.

A Voice to Parliament was the key recommendation of the 2017 Uluru Statement of the Heart, a petition to government by Indigenous leaders following debate and discussions in Indigenous communities around the country.

On the weekend, while at the Garma Festival in the Northern Territory, Prime Minister Anthony Albanese proposed a draft referendum question that could be put to the public.

But a referendum is yet to have full buy-in from the Greens, Liberals or Nationals, a key concern being that there is not a clear picture on how the body would look and operate.

The Indigenous Australians Minister said the referendum question must be kept simple, but there were detailed proposals on how the body could function.

“There’s been 10 years of reports, parliamentary inquiries, discussions with constitutional lawyers, there has been a lot of discussions with Aboriginal leaders,” Ms Burney said.

“There is a lot of detail out there in the community.

“The last thing that we would want, which we have seen in the past in turns of referendums, is a proposition or a question that people can’t sign up to.”

For a referendum to pass it must have at least 50 per cent of the public vote yes nationally and in each state and territory.

A referendum hasn’t been put to the Australian public since 1999, when a ‘No’ result to Australia becoming a republic put an end to debate for a generation.

But Ms Burney said people should look further back when asking if a Voice referendum could succeed.

“Australians are decent, they’re fair, and when you go back to 1967, the last time there was really a referendum question directly to do with Aboriginal people, there was the most successful yes vote,” she said.

Ms Burney admitted the bar was high for a referendum to succeed, but she said she was not “so naive to think there won’t be a scare campaign and detractors”.

Greens spokeswoman on First Nations, Lidia Thorpe, said they were committed to the full implementation of the Uluru Statement of the Heart.

But she was skeptical that the nation was ready for a debate on the Voice to Parliament.

“I don’t believe we are at that point in this country where all Australians are open to hearing the true history of this country,” Senator Thorpe told ABC Radio National.

“I don’t think we need any mechanism except for a government that is open to telling the truth and a nation that is open to hearing the truth.”

Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.

Labor have committed to an Indigenous Voice to Parliament — how would it work?

‘I Didn’t Want to Disappoint People’

Post author By mangakiko
Post date August 1, 2022
No Comments on ‘I Didn’t Want to Disappoint People’

Sen. Joe Manchin said the Inflation Reduction Act was a surprise to most people on Capitol Hill and across the country because he didn’t want to “disappoint people again.”

“The reason people weren’t brought into this, I didn’t think it would come to fruition,” the West Virginia senator told CNN’s Jake Tapper on “State of the Union” on Sunday: “I didn’t want to disappoint people again,” he added.

Manchin was a key holdout on the Build Back Better Plan — Biden’s social and climate spending bill — for more than a year, causing heavy criticism from his Democratic colleagues and advocates.

“With that, I didn’t want to build any anticipation up,” and then have it “come down,” he told Tapper.

Manchin said a select few officials were aware, such as the President. He said Biden “absolutely” knew the act was being built and “gave approval.”

The bill — which includes prescription drug negotiations, climate change solutions, and tax reforms — would be required to pass a 50-50 Senate split between Republicans and Democrats. However, Sen. Kyrsten Sinema, an Arizona Democrat, may be a holdout on the legislation.

Manchin declined to say the last time he spoke with Sinema. “We work very close together on so many things,” Manchin said, “and she has so much in this piece of legislation.”

Sinema has not made her thoughts on the plan known to the public. “Hopefully, she will be positive about it,” Manchin said. “But she’ll make her decision. I respect that.”

Sens. Sinema and Manchin did not immediately respond to Insider’s request for comment.

Business

Boston Consulting in ‘nepotism’ row over work experience for partners’ kids

Post author By mangakiko
Post date August 1, 2022
No Comments on Boston Consulting in ‘nepotism’ row over work experience for partners’ kids

“It’s caused a lot of internal disquiet both among more junior staff [and at] more senior levels, particularly in the London office, and concerns were simply overruled,” the employee said.

BCG, which employs 25,000 people in more than 100 cities around the world, said: “The Bruce Henderson Summer Program has been in place for many years and is designed to help children have a broad educational and professional experience. Parents cover the primary costs, such as travel. Participants stay in college dorms, and the program is focused on education.”

The firm added that consultants who worked on the program had volunteered their time: “BCG did not staff a team to organize this.”

The firm reported sales of $US11 billion ($15.8 billion) for 2021. It has also tightened its travel policies for staff as part of efforts to reach net-zero carbon emissions by 2030. Trips to cities such as Florence and Lisbon for prospective recruits to the London office have been axed.

Chief executive Christoph Schweizer said in February that he wanted BCG to hire climate activists to work for corporate clients and that he expects the firm will earn up to a third of its fees from climate consulting within five years. BCG said it “remains committed, and is on track, to reach net-zero climate impact no later than 2030, and we are on target to halve our carbon emissions by 2025”.

Last year, BCG also signed up to a program run by the UK’s Sutton Trust to help people from lower-income backgrounds enter consulting.

“This kind of behavior makes a mockery of the work that the [Sutton] Trust does to advance social mobility in finance and consulting,” said the employee, adding it is “also completely against the spirit of our very publicly stated net-zero ambitions”.

Staff writing anonymously in a private group on the Fishbowl app, which requires users to register with their work email addresses, made similar complaints that the work experience program was inconsistent with the firm’s public positions.

“People would take the net-zero commitment more seriously if there was more consistency across the board,” said one BCG staffer. “We get our global trainings killed and [managing directors/partners] kids get flown to London for a fun day?” said another.

A third labeled the program “super nepotism”, noting: “Our recruiting program aimed at the same age group is oversubscribed 40:1.”

One person describing themselves as a senior partner defended the firm saying: “We are paying our own way if we want our children to go.”

But a fourth BCG employee wrote: “Let’s advertise it and see what the public response is? Join BCG to babysit the bosses’ kids!”

“Shocking use of resources,” wrote a fifth, who said they had worked on the events.

Financial Times

Technology

Intel Core i7-13700K Raptor Lake CPU Overclocked To 6 GHz Across All Raptor Cove Cores

Post author By mangakiko
Post date August 1, 2022
No Comments on Intel Core i7-13700K Raptor Lake CPU Overclocked To 6 GHz Across All Raptor Cove Cores

Alleged Intel Core i9-13900K Raptor Lake CPU-Z Shows Up To 68 MB Cache: Higher Clocks & Increased Cache Designed To Tackle AMD's Raphael 'Zen 4' CPUs

An alleged video showing the Intel Core i7-13700K Raptor Lake CPU has popped up which shows an impressive 6 GHz overclock across all Raptor Cove cores. We just got the gaming benchmarks of the same chip a few hours ago and now we can look at what sort of capabilities will be on offer when it comes to overclocking.

Intel Raptor Lake Core i7-13700K 16 Core CPU Overclocked To 6 GHz Across All Raptor Cove Cores

The upcoming Intel 13th Gen Raptor Lake lineup is going to be an optimization of 12th Gen Alder Lake CPUs, featuring Raptor Cove cores with enhanced cache structuring, faster clocks, & also an increase to the number of Gracemont E-Cores. The CPUs have also been highlighted to offer some great overclocking capabilities and it looks like we have the first overclocking figures coming to us from Videocardz and Twitter users, @QXE87 & @esperonslaie.

pic.twitter.com/gtLfib2wq6

—esperanslaie (@esperonslaie) July 31, 2022

Intel Core i7-13700K 16 Core Raptor Lake CPU Specs

The Intel Core i7-13700K CPU will be the fastest 13th Gen Core i7 chip on offer within the Raptor Lake CPU lineup. The chip features a total of 16 cores and 24 threads. This configuration is made possible with 8 P-Cores based on the Raptor Cove architecture and 8 E-Cores based on the Grace Mont core architecture. The CPU comes with 30 MB of L3 cache and 24 MB of L2 cache for a total combined 54 MB cache. The chip was running at a base clock of 3.4 GHz and a boost clock of 5.40 GHz. The all-core boost is rated at 5.3 GHz for the P-Cores while the E-Cores feature a base clock of 3.4 GHz and a boost clock of 4.3 GHz.

Core i7-13700K 8+8 (16/24) – 3.4 / 5.3 GHz – 54 MB Cache, 125W (PL1) / 244W (PL2)?
Core i7-12700K 8+4 (12/20) – 3.6 / 5.0 GHz, 25MB Cache, 125W (PL1) / 190W (PL2)

Intel Core i7-13700K 16 Core Raptor Lake CPU Overclocking

So there are a total of three benchmarks of the alleged Intel Core i7-13700K Raptor Lake CPU with overclocked frequencies. First and foremost, we have the chip running at 6 GHz on an MSI MEG Z690I Unify motherboard. This overclocking demonstration had just the 8 Raptor Cove P-Cores enabled and clocked at 6.0 GHz with a voltage supply of 1.421V.

Intel Core i7-13700K Raptor Lake CPU allegedly overclocked to 6 GHz on all 8 Raptor Cove cores. (Image Credits: Videocardz)

The CPU temperatures should be disregarded since the PC is in the idle state so we can’t say what the maximum temps or power input was when running the CPU-z benchmark. What we do know is that the chip scored 983.3 points in single-core and 7814.7 points in multi-core tests.

Intel Core i7-13700K Raptor Lake CPU allegedly overclocked to 5.8 GHz on all 8 Raptor Cove cores. (Image Credits: Videocardz)

The second benchmark is with the whole 8 P-Core and 8 E-Cores enabled. We can see that the P-Cores are clocked at 5.8 GHz and the E-Cores are clocked at 3.7 GHz. The voltage was maintained much higher at 1.501V but it should be pointed out that the user wasn’t running this under LN2 and a high-end liquid cooler was being used. With this overclock, the Intel Core i7-13700K Raptor Lake 16-core chip scored 947 points in single-core and 12896 points in multi-core tests.

4000

8000

12000

16000

20000

24000

Core i7-13700K 8P-Core @ 6GHz

What is really interesting here is that even with a lower 3.70 GHz clock speeds, the E-Cores are responsible for 40% of the performance. This is why we have seen such a big performance uplift in multithreaded workloads for the leaked Raptor Lake CPUs.

Intel Core i7-13700K 8 P-Cores @ 6.0 GHz / No E-Cores – 7817.4
Intel Core i7-13700K 8 P-Cores & 5.8 GHz / 8 E-Cores @ 3.7 GHz – 12896 Points

Lastly, we have the chip running at 5.9 GHz across all P-Cores and here, we can actually see the power and temperatures that the chip produced. With a voltage supply of 1.447V, the CPU was maxing out at 86C with a power consumption of 238W (CPU Package Power). Now I was expecting the temperatures and power figures to be much higher but we should remember that these are just the 8 P-Cores that are active. Enabling the E-Cores should result in even higher power draw & temps for the chip.

The Intel 13th Gen Raptor Lake Desktop CPUs including the flagship Core i9-13900K is expected to launch in October on the Z790 platform. The CPUs will be going up against AMD’s Ryzen 7000 CPU lineup which also launches in Fall 2022.

Products mentioned in this post

Entertainment

Margot Robbie sent Neighbors cast champagne for finale

Post author By mangakiko
Post date August 1, 2022
No Comments on Margot Robbie sent Neighbors cast champagne for finale

Hollywood star Margot Robbie has told how she will be “eternally grateful” to soap Neighbors after it launched her acting career.

Margot, 32, who began her TV career as Ramsay Street’s Donna Freedman from 2008 to 2011, appeared in the show’s finale, which aired last Thursday.

While the A-lister filmed her scenes for the final show in Los Angeles, she made a sweet gesture to her fellow castmates, sending 37 bottles of champagne to the Melbourne set, as revealed by Neighbors actress Christie Whelan on social media last week, The Sun reports.

Robbie said that the final episode marks “the end of an era”.

Now Hollywood’s highest-paid actress, she said: “I owe so much to neighbors.

“There are so many of us that owe [the show] for giving us a big break.

“It wasn’t just about giving me a break either – it gave me a real chance to work on my craft. It was the perfect training for Hollywood and I will always be eternally grateful.”

thursday’s neighbors finale saw Robbie return alongside a host of other fan favourites, including Jason Donovan, Kylie Minogue, Guy Pearce, Holly Valance and Natalie Imbruglia.

Anne Charleston, who played Ramsay Street legend Madge Bishop, also returned – with her late character appearing as a ghost.

Remembering her time on the soap, Robbie said it was only when she moved to London that she realized how widespread neighbors‘popularity was.

“It really is an end of an era for fans. When I lived in London, I understood at its peak how big it was. People would come up to me and tell me how they watched it every day after school.”

From fruit farm to Hollywood Hills

The actress, who grew up on a fruit farm on the Gold Coast, moved to LA after leaving neighbors in 2011 and landed a role in US TV show Pan Am.

But it was her part opposite Leonardo DiCaprio in The Wolf Of Wall Street that caught the eye of movie bosses in 2013.

Soon after, she moved to South London where she shared a four-bedroom pad in Clapham with six other friends that they dubbed “The Manor”.

Her housemates were friends she had met filming wartime flick French Suite – including the assistant director and her now-husband Tom Ackerley.

Robbie went on to star in 2015’s focus opposite Will Smith and played The Joker’s girlfriend Harley Quinn in 2016 hitSuicide Squad.

In 2016, she and Ackerley also married, and the following year they swapped their Clapham flat for a $3.6 million villa in Hollywood.

But she said leaving London had not been an easy move for the couple.

She said: “It was such a hard decision to leave, but I just couldn’t keep living out of a suitcase.”

Back in LA, the actress went on to star as Tonya Harding in I, Tonya – which she also produced – and alongside Nicole Kidman and Charlize Theron in Bombshell.

Both roles won her Oscar nominations.

She also starred as rising movie star Sharon Tate in Quentin Tarantino’s Once Upon A Time In Hollywoodappearing with former co-star DiCaprio as well as Brad Pitt.

Next year will see her hit the big screen in neon pink and sky-high heels after she was cast as Barbie in a romantic comedy about the iconic doll.

Directed by Greta Gerwig, the film also stars Ryan Gosling as Barbie‘s love interest Ken.

Robbie said: “When I read the script, I genuinely thought, ‘This is one of the best scripts I have ever read.’ I needed to be part of this story.

“I remember speaking with Ryan before we started shooting and we were just so excited to be part of this incredible script.

“Whatever people expect the Barbie movie to be like, they need to totally rethink it because Greta has done something special here.

“And Barbie is such a role model. She was a surgeon back in the early ’70s when a tiny percentage of females were applying for medical school.”

It is expected that in the hands of director Greta – whose last films were Lady Bird and Little Women – Barbie will get a thoroughly modern makeover.

‘Things have changed a lot’

It comes after Hollywood’s own makeover in recent years following the #MeToo scandals.

That movement was the focus of 2019 movie Bombshell, which was based on the sexual harassment of women working at Fox News.

Robbie, who starred as Kayla Pospisil, told at the time that it was only while working on the film that she realized what sexual harassment was.

She told Net-A-Porter: “I’m in my late twenties, I’m educated, I’m worldly, I’ve travelled, I have my own business – and I didn’t know. That’s insane.

“I didn’t know that you could say, ‘I have been sexually harassed,’ without someone physically touching you.

“That you could say, ‘That’s not OK.’ I had no idea.”

The actress also said that she has experienced harassment, but “not in Hollywood”, adding: “I struggle to find many women who haven’t experienced sexual harassment on some level.

“So yes, lots of times. And to varying degrees of severity throughout my life.”

Speaking last week, Robbie said: “I think things have changed in Hollywood over the past few years.

“There have been some difficult conversations and very brave people.

“We live in hope that all this courage that has been shown means nothing like this ever happens again.”

This story originally appeared on The Sun and is republished here with permission

Tags America, Anne Charleston, assistant manager, Australia, Australia and New Zealand, bird, Brad Pitt, California, character appearance, Charlize Theron, Clapham, donna freedman, Europe, fan favorites, final episode marks, four-bedroom pad, FoxNewsChannel, Gold Coast, Greta Gerwig, Guy Pearce, Habia una vez, harley quinn, Holly Valence, Hollywood, Jason Donovan, joker, Leonardo Dicaprio, London, love interests, LOVE ISLAND, margot robbie, movie bosses, Natalie Imbruglia, Net A Porter, Nicole Kidman, North America, Northern America, Northern Europe, Oceania, Queensland, Quentin Tarantino, real chance, role models, Ryan Gosling, sexual harassment, Sharon Tate, South Australia, Tom Ackerley, Tonya Harding, United Kingdom, United States of America, wartime flick, Will Smith

Sports

Australia’s beach volleyballers blow up

Post author By mangakiko
Post date August 1, 2022
No Comments on Australia’s beach volleyballers blow up

(Ace Bill Lawry said on the Twelfth Man: “Canary yellow! That’s Australian gold my friend and don’t you f—ing forget it!” )

The second moment of controversy came in the second set when the referee penalized Clancy for a “carry”. In other words, she held onto the ball for too long when setting up Artacho del Solar for the money spike.

She eyeballed the ref and barked, “What was that? Are you kidding me?”

To his credit, he remained unmoved.

“They said I carried,” Clancy said afterwards. “I DO NOT CARRY. There’s always been a rule but they’re being all sensitive on it. That was not a carry. I was pretty cranky. I think I have very good hands, so I get very insulted.”

Artacho del Solar said: “I feel like he just wanted to get involved.”

They said this with cheeky smiles, bless them, but there is some serious business at hand here at the former flea market, where a Mexican wave between points was the closest thing to an actual wave.

Clancy (who wears her Indigenous pride on her painted fingernails) and Artacho del Solar (who is originally from Peru) paired up just before the 2018 Commonwealth Games on the Gold Coast, where they claimed silver.

Then came their heroics last year in Tokyo, when they captured the hearts and minds of those of us in COVID-19 lockdown in Australia, claiming silver once more. A medal of a different hue is on the agenda here in Brum.

Has their profile increased since Toyko?

“I’m not going to lie — it has,” Clancy said. “I’m like, ‘Why do you know who I am? Why are you talking to me?’ Not in a bad way.”

Kerri Pottharst and Natalie Cook celebrate their gold at Bondi at the Sydney 2000 Olympics.Credit:Getty

Do they cover the same attention as Kerri Pottharst and Natalie Cookwho won gold on Bondi Beach at the Sydney Olympics?

“Not at all,” Artacho del Solar said.

And with that, the pair turned left and did a samba down the runway of the mixed zone and into the afternoon.

What a shame it wasn’t a conga line. I would’ve joined in.

Their second pool match, against the pair from Trinidad and Tobago, is on Tuesday.

Bog standards

“Are you people of authority?” asked one female fan after the beach volleyball, looking at the accreditation lanyard around our necks.

No. We’re reporters. Not authority.

“Well, report on the fact there are two toilets for women and four for men,” she continued. “That’s discrimination.”

She has a point.

The queues for food at the Commonwealth Games in Birmingham have been a talking point.Credit:Getty

Of equal concern are the enormous lines for food and drink at every venue. Then there’s the prices: $17 for “sausage and chips”. You don’t even get a piece of bread.

Football steals show

While Birmingham got around the Commonwealth Games, the rest of the UK got around England’s women’s football team in the final of the European championships.

England triumphed 2-1 after extra time in an epic final against Germany at Wembley.

The scene at the Craven Arms hotel was wild. “Well there’s the headlines tomorrow,” mused one local.

It was interesting to note that both captains wore rainbow-coloured armbands.

Amazing! Nobody died. Actually, nobody even spoke about it.

THE QUOTE
“Bitter love triangle hits awkward Commonwealth Games squad — with links to Miley Cyrus.” — Good to see British tabloid The Daily Star has toned down its coverage since Kyle Chalmers’ impassioned plea for the media to leave him alone and be “positive”.

THUMBS UP
Australia’s women’s sevens team won gold after beating Fiji in the final. Good times, classic hits.

THUMBS DOWN
england cyclist Matt Walls crashed into the crowd during the final lap of the men’s 15km scratch race, leaving one young fan “covered in blood”. Walls was trying to avoid another crash. The race was abandoned and a second cyclist, Matt Bostock from the Isle of Man, was taken away on a stretcher.

Australia

Taxi driver allegedly threatens passengers with knife, hits one with vehicle over fare dispute

Post author By mangakiko
Post date August 1, 2022
No Comments on Taxi driver allegedly threatens passengers with knife, hits one with vehicle over fare dispute

two knives in a plastic bag with a plastic ruler for measuring their length.

A Gold Coast taxi driver has been arrested after allegedly threatening passengers with a knife and later hitting one of them over a fare dispute.

Superintendent Geoff Sheldon said a member of the public called police after seeing the driver arguing with four male passengers on Hanlan Street in Surfers Paradise around 1:30 this morning.

“There was some sort of dispute in the taxi, a member of the public has seen that and alerted us and we’ve had them followed on CCTV camera,” Superintendent Sheldon said.

Police followed the vehicle’s movements via the council CCTV system to Cavill Avenue, where the driver allegedly struck one of the passengers.

“The person has ended up on the bonnet and the taxi driver reversed back and the person has fallen off,” Superintendent Sheldon said.

“He’s driven at another person nearby and didn’t strike the second person.”

The men received minor injuries.

The 35-year-old taxi driver was arrested a short time later at Macintosh Island and has been charged with dangerous driving and going armed so as to cause fear.

He was granted police bail and is due to appear in the Southport Magistrates Court on August 15.

Tags cab drivers, cavill avenue, charges, dangerous driving, fare dispute, fare evasion, goldcoast, police

Man tries to rape woman as she walked her small dog in NYC

Post author By mangakiko
Post date August 1, 2022
No Comments on Man tries to rape woman as she walked her small dog in NYC

A fiend tried to rape a woman as she walked her small dog on a Brooklyn sidewalk Saturday morning, cops say.

Video footage released by the NYPD shows the attacker approaching his 30-year-old victim from behind around 8:30 am near Woodbine Street and Ridgewood Place in Bushwick and place her in a chokehold.

He then wrestles her to the sidewalk behind a parked car.

The woman’s dog can be seen frantically barking as the man gets on top of the woman, footage shows.

Police said the perp continued to strangle the victim and assault her over her clothing before he fled east on Woodbine Street.

“This scumbag literally placed her in a chokehold and pushed her to the ground and almost choked her unconscious,” a police source told The Post on Sunday.

The victim originally turned down medical attention but was later treated at Interfaith Medical Center, police said.

She sustained a cut to her neck and bruising and swelling to both eyes, a police source said.

Brooklyn man attempted rape — The victim was walking her dog before the suspect began to attack.

brooklyn suspect — The man wrestles the woman to the ground attempting to rape her.

Brooklyn man attempts rape — The man strangled the woman in daylight.

Brooklyn man attempts to rape a woman — I have fled east on Woodbine Street.

The suspect was described as about 30 years old and 5’8″ with a medium build, police said. He had his black hair in dreads, a mustache and chin hair, police said.

He was last seen wearing a black ball cap with a rose design on the front and also had on a black t-shirt, shorts and sneakers, according to authorities.

Anyone with information can call NYPD’s Crime Stoppers at 1-800-577-TIPS or for Spanish 1-888-75-PISTA.

Tags brooklyn, Meter, nypd, snuff

Business

Australian house prices fall fastest since GFC and 1980s crash

Post author By mangakiko
Post date August 1, 2022
No Comments on Australian house prices fall fastest since GFC and 1980s crash

Sydney property prices have fallen their sharpest in 40 years as the national housing market nosedive picks up pace.

A market expert has labeled this downturn on par with the start of the Global Financial Crisis and the early 1980s crash.

The May interest rate rise was a trigger point, CoreLogic’s Home Value Index for July has been found.

The median national home value dropped 1.3 per cent over July, CoreLogic reveals, which is the third month in a row of price declines. Over the quarter, national prices are down 2 per cent. The national median value is now $747,812.

This sits against a period of blistering growth during the pandemic where values rose 28.6 per cent.

READMORE: Nervous buyers drop out of auction race for $2.41m Dulwich Hill house

CoreLogic’s House Price Index for July shows a record-breaking Sydney slump. (CoreLogic)

The glisten has also gone from the two-year long tree and sea-change price boom, with regional areas also in a value slide. However, capital growth outside of the metro areas is holding more tenaciously.

Although the Australian housing market is only three months into a decline, price tumbled have been aggressive. The property market cooldown is spreading beyond the high-value capitals of Sydney and Melbourne, according to the CoreLogic figures.

Five of the eight capital cities recorded price drops in July.

In Sydney, overall dwelling values are down 2.2 per cent over the month, which represents a record-breaking slump (or 4.7 per cent over three months).

The declines are even deeper when broken down by houses, which have dropped 2.5 per cent in value over July, or 5.3 per cent over three months.

READMORE: Movie star David Wenham discreetly bought in Brisbane

An auction by The Agency, North Epping, in full flight. (Peter Ray)

CoreLogic research director Tim Lawless said housing values had “weakened sharply” since the Reserve Bank lifted the nation’s cash rate in May, for the first time after a 12 year honeymoon.

“The rate of growth in housing values was slowing well before interest rates started to rise. However, it’s abundantly clear markets have weakened quite sharply since the first rate rise on May 5,” he said.

“Although the housing market is only three months into a decline, the national Home Value Index shows that the rate of decline is comparable with the onset of the global financial crisis in 2008, and the sharp downswing of the early 1980s.

“In Sydney, where the downturn has been particularly accelerated, we are seeing the sharpest value falls in almost 40 years.

“Due to the record high levels of debt, indebted households are more sensitive to higher interest rates, as well as the additional downside impact from very high inflation on balance sheets and sentiment.”

READMORE: The shocking number of Australians at risk of mortgage stress

CoreLogic research director Tim Lawless said property values had “weakened sharply” since rates started to lift. (Domain)

In Melbourne, values dropped 1.5 per cent over the month and Brisbane reached a milestone of negative growth – down 0.8 per cent – for the first time since August 2020.

Brisbane had been considered a strong market even while the other eastern capitals had started to go backwards.

Hobart clocked at 1.5 per cent value drop and Canberra lodged at 1.1 per cent decline.

Perth, Adelaide and Darwin defied the downturn to register growth, but since interest rates have crept upwards, the speed of that growth is slowing down, CoreLogic found.

Perth clocked 0.2 per cent growth over July, Adelaide’s market rose 0.4 per cent and Darwin had 0.5 per cent growth.

READMORE: Melbourne’s Autumn House has been crowned Australia’s best home

The housing market decline has spread through regional areas as well, but metro has fared the worst. (Domain)

In regional areas, the combined dwelling median experienced its first decline since August 2000, sitting at 0.8 per cent less, month-on-month.

Regional Victoria (-0.7 per cent), New South Wales (-1.1 per cent), Tasmania (-0.6 per cent) and Queensland (-0.7 per cent) all experienced price declines. However, regional South Australia (up 1.1 per cent) and Western Australia (an increase of 0.1 per cent) were the exception and made capital gains.

CoreLogic found most regional centers close to capital cities, which attracted strong migration during the pandemic, have posted decreases in home values in the three months to July, ending a two-year run of growth.

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