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Falling Australian Home Prices A Sign of Things to Come in 2018

Sydney's cooling property market cause first quarterly decline in almost two years

The first quarterly decline in Australian home values in almost two years may be a sign of what’s to come. National dwelling values fell 0.3 percent in the last three months of 2017, the first such drop since the period ending April 2016, weighed by Sydney’s cooling property market, according to CoreLogic Inc. data released Tuesday. Softer conditions throughout 2018 are likely as “Sydney’s housing market has become the most significant drag on the headline growth figures,” said Tim Lawless, CoreLogic’s head of Australia research.

— With assistance by Kanika Sood

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