Melbourne and Sydney home prices edged lower again last week, further suggesting regulatory intervention is helping to cool the country's two hottest property markets.

Adelaide, Perth and Brisbane prices inched up, between 0.4 and 0.1 per cent, in the week to May 28, but Melbourne prices dropped 0.5 per cent to sit 1.8 per cent lower than a month earlier. Prices in Sydney fell by 0.1 per cent, a seventh straight weekly decline that…