Capital city prices to fall lower

HOUSING prices across Australia’s capital cities are likely to end the month lower, according to CommSec research.

The broker says that based on data released so far this month, home prices are likely to slip 0.5 per cent across December.

Adelaide is the only capital expected to chalk up growth this month, but Melbourne is still forecast to be the only city with strong growth across the year with a projected jump in prices of 9 per cent.

CommSec economist Craig James said Sydney housing prices were falling at a faster pace this month and appeared to have dropped 0.9 per cent so far December.

Sydney prices look set to finish the year up just 3.2 per cent, with Brisbane and the Gold Coast likely to be up 2.7 per cent and Perth rising 0.3 per cent.