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Australia: Property prices slump in most capital cities

Posted on 02 November 2012

Property prices fell in all capital cities except Perth and Darwin last month after four months of modest gains, as recent interest rate cuts failed to ignite the market. Across Australia’s capital cities, property prices fell 1 per cent over October, after a 1.4 per cent increase in September, according to the RP Data-Rismark home price index.
RP Data research director Tim Lawless said: “It is surprising to see a fall in October after a rate cut at the start of the month. It really shows that the housing market is delicately balanced at the moment.”……………………………………….Full Article: Source


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