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Financial News: Australia House Price Index Dips 0.7% In Q1

Australia House Price Index Dips 0.7% In Q1

06/18/2018 - 21:55:00 (RTTNews)

(RTTNews) - Residential property prices in Australia were down 0.7 percent on quarter in the first three months of 2018, the Australian Bureau of Statistics said on Tuesday.

That beat forecasts for a decline of 1.0 percent following the 1.0 percent increase in the previous three months.

On a yearly basis, house prices climbed 2.0 percent - again exceeding expectations for an increase of 1.7 percent after spiking 5.0 percent in the three months prior.

The total value of residential dwellings in Australia was A$6,913,636.6 million at the end of the March quarter 2018, falling A$22,498.3 million over the quarter.

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