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Australia: House prices post surprise gain

Posted on 01 August 2012

Property prices unexpectedly rose in the June quarter despite buyers receiving conflicting signals about the outlook for the property market. House prices rose 0.5 per cent in the June quarter, following an upwardly revised 0.1 per cent drop in the March quarter, the Australian Bureau of Statistics said. Economists polled by Bloomberg tipped a 0.5 per cent fall.
Over the year to June, house prices fell 2.1 per cent, after an upwardly revised 3.5 per cent fall in the year to March, the ABS said. The drop was the fifth consecutive quarterly fall on a year-on-year basis in the ABS series which began in 2003………………………………………..Full Article: Source


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