Falling Sydney Prices Drive a Slowdown in Australian Property
- Nation’s price growth is half what it was six months earlier
- Data fuel concern over potential blow to consumer confidence
Photographer: Brendon Thorne/Bloomberg
This article is for subscribers only.
Falling Sydney home prices are driving an Australian property slowdown, risking a further hit to consumer confidence.
Australia’s dwelling prices rose 5.2 percent in the year to November, half the pace of six months earlier, CoreLogic Inc. data showed Friday. In Sydney, which accounts for about a third of the value of housing nationally, prices extended month-on-month declines, the data provider said.