Why have Australian house prices started to fall? CoreLogic analyst, Cameron Kusher, explains it in one simple graphic.

Australian house prices have started to decline, but don't push the panic button yet. CoreLogic reveals the drop is due mainly to the falling price of Australia's most expensive homes.

Via @cmkusher

Properties in the 10th decile—or the top 10%—are falling at the fastest rate, dropping 3.2% since the start of the year. 

Prices in the 8th and 9th decile have also declined by 0.5% and 1.1%.

Outside of that, homes in the bottom six deciles have remained flat, indicating the 0.8% nationwide decline is largely driven by the activity at the top end of the market, rather than the market as a whole.

Source: Business Insider