House prices continue to fall clearing way for rate cut


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National dwelling values were down by 0.5 per cent in the month to be down by 7.2 per cent on an annual basis, the largest drop since the 12 months to February 2009.


Every capital city except Canberra suffered a fall in house prices last month with Hobart, which had been the nation’s strongest market, seeing a 1.2 per cent drop in April.


Canberra, where values lifted last month, and Hobart are the only two capitals where prices are still growing above the inflation rate on an annual basis.


CoreLogic research director Tim Lawless said despite the fall there were signs that the bottom of the market had been reached.


“We are seeing further evidence that the worst of the housing market conditions are now behind us,” he said.


Article source: https://www.smh.com.au/world/north-america/latinos-down-on-trump-but-turnout-for-midterm-vote-uncertain-20181026-p50c64.html?ref=rss&utm_medium=rss&utm_source=rss_world

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