Australian house price growth sees slowdown

Sydney, Aug 31 (IANS) The growth in price of housing in Australia’s capital cities has slowed, according to preliminary figures from analytics firm CoreLoigic RP Data.

The growth rate data, to be released on Tuesday, suggests to only 0.5 percent gain in August after gains of 2.8 percent in July and 2.1 percent in June, Xinhua reported on Monday.

Head of Research at CoreLogic RP Data, Tim Lawless, told local media that the monthly growth slowdown was most evident in the southern capital city of Melbourne, where house prices remained relatively flat in the first four weeks of August compared with the July average.

Sydney house prices rose about 1 percent.

The latest monthly rise in CoreLogic’s data suggests Australia’s annual house price growth slowed to 10.5 percent in the year to August, down from 11.1 percent over the year to July, local media reported.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here