House prices continue to show signs of cooling

Posted by Simon Dehne on December 1, 2015 in Latest News with No Comments

Auction_SydneyHouse prices in Australia are continuing to show signs of cooling, as out-of-cycle rate hikes from the big four banks and a regulator crackdown on loose lending start to curb the speculative property bubble in the major cities.

Property prices slipped in five of the eight Australian capitals, which dragged the combined capital cities price index 1.5 per cent lower over November, according to figures from CoreLogic RP Data.

The slide in capital city home prices marked the first fall in six months and the biggest slide nationally in 18 months, said CommSec.

The depreciation in price was quite pronounced in Melbourne and Sydney, where home prices fell 3.5 per cent and 1.4 per cent, respectively, over the month.

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