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Australian House Prices Decline as Edge Comes Off Sydney Boom

Apartment buildings stand in the suburb of Rhodes in Sydney, Australia, on Sunday, Jan. 8, 2017. Australian house values increased at the fastest pace in seven years in 2016, as record-low interest rates helped fuel demand for property despite warnings such price increases may be unsustainable.
Photographer: Brendon Thorne/Bloomberg

Australian house prices fell last month, amid growing signs the boom in Sydney has peaked as regulators clamp down on investor lending.

Home prices fell 0.3 percent nationally, led by a 0.9 percent drop in Sydney, according to CoreLogic Inc. data released Thursday. The Sydney housing market, which surged 75 percent between February 2012 and July, has now dropped 3.1 percent from its peak, the data showed.