Australian House Price Growth Loses Steam in November

Australia’s national house prices have seen the smallest growth in the past ten months as complicated market factors slow down the property market’s recovery. According to the latest insight from real estate data firm CoreLogic, national home values rose by 0.6 percent in November, down from 0.9 percent in October, and 0.7 percent in September. Among the capital cities, Melbourne and Hobart experienced a 0.1 percent drop in house prices, and Darwin’s home values fell by 0.3 percent. While Sydney’s house prices rose 0.3 percent during the month, the increase was significantly lower than what was recorded in previous months. Meanwhile, Perth reported the largest growth in home values at 1.9 percent, followed by Brisbane at 1.3 percent, Adelaide at 1.2 percent, and Canberra at 0.5 percent....