Analysts at TDS note that Australian house prices fell for the 9th straight month in June, down 0.8%/yr.
Key Quotes
“Prices eased 0.3%/m and 0.4%/m respectively in Sydney and Melbourne, Sydney prices -6%/yr, Melbourne +1%/yr. CoreLogic expects tighter lending standards and out of cycle rate hikes as headwinds for prices.”
“The Melbourne Institute Inflation Gauge headline print was flat on the month, +2%/yr. Nothing really to see here.”
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