Australian housing prices have risen for the 14th-straight month, but the pace of growth in November was the slowest since January, indicating the latest boom may be nearing its peak. Key points: Housing prices rose 1.3 per cent nationally in November, with regional markets up 2.2pc and capital cities 1.1pc Hobart had the biggest capital city price increase over the past year (27.7pc) while Perth had the smallest rise (14.5pc) The number of homes listed for sale in Sydney and Melbourne has recently increased The latest CoreLogic home value index showed Sydney and Melbourne were driving the slowdown in growth, although Perth had an even smaller increase and prices in Darwin actually fell last month. CoreLogic noted that after a period in which there had been a shortage of properties listed for sale in Australia’s two biggest cities, Sydney listings were now back just below the five-year average, while Melbourne’s were 8 per cent above. “There’s slowing momentum across Sydney and Melbourne in particular, which is reflective of the fact that stock levels across those cities have pretty well normalised,” CoreLogic’s head of residential research Australia, Eliza Owen, said. “But if you look at smaller capital cities and regional Australia, where stock levels are… Read full this story
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