House price growth slowest in nearly three years

Posted by Simon Dehne on April 4, 2016 in Latest News with No Comments

House XXL

Australia’s housing price growth has slumped to its slowest pace in nearly three years, with capital city prices rising 6.4 per cent over the past 12 months.

Going against the trend was the depressed mining-dependent Perth market, which showed a 1.2 per cent bounce in house prices for the month of March, according to researcher RP Data CoreLogic’s housing value index.

Sydney also showed some resilience during the month with prices up 1 per cent. However the annual rate of growth has more than halved from around the peak of the market mid last year to 7.4 per cent in March, with a median housing price of $730,000.

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