Australia House Prices Climb Further, Led by Brisbane, Adelaide
- Sydney and Melbourne harder hit by affordability pressures
- Factors driving housing higher lost potency in recent months
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Australia’s housing market advanced for a 14th consecutive month as Brisbane and Adelaide led the gains, reflecting better affordability compared to to Sydney and Melbourne, where the pace of increases cooled.
Residential property values in Australia’s major cities rose 1.1% in November, to be up more than 20% from a year earlier, according to CoreLogic Inc. data released Wednesday. Brisbane home values jumped 2.9%, the most in 18 years, and Adelaide was up 2.5%, the biggest gain since early 1993.