Australia Home Prices Edge Up, Further Sign of Cooling Boom
Homes in the Bella Vista suburb of Sydney, Australia.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Australian home prices rose slightly during the first month of this year amid a historically sluggish mid-summer period, as overall growth continues to show the booming market is cooling.
House prices were up 1.1% in January, compared with 1% a month earlier, as the most-populous cities, Sydney and Melbourne, were outpaced by smaller rivals and regional markets, according to a report from CoreLogic Inc. Tuesday.