Cap­i­tal house prices drop

Townsville Bulletin - - Investor -

CAP­I­TAL city house prices fell 1.6 per cent in Jan­uary, fur­ther damp­en­ing growth as nat­u­ral dis­as­ters swept across the nation, a sur­vey shows. The RP Data Ris­mark sur­vey, re­leased yes­ter­day, shows cap­i­tal city dwelling prices for the Jan­uary quar­ter fell 1.8 per cent, but were still up 1.2 per cent over the year. Hous­ing ac­tiv­ity in Jan­uary was weaker than usual due to flood­ing in Queens­land, NSW and Vic­to­ria, and Cy­clone Yasi. Com­mSec econ­o­mist Craig James said Aus­tralian dwelling prices had now com­pleted a ‘‘ soft land­ing’’. ‘‘ Home prices are now track­ing at just a 1.2 per cent an­nual rate.’’

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