Money Flat week for capital city house prices

19:53  09 january  2018
19:53  09 january  2018 Source:   MSN

House prices in Australia's capital cities are threatening 'negative growth' in 2018

  House prices in Australia's capital cities are threatening 'negative growth' in 2018 After starting in Sydney earlier in the year, Australia's housing market slowdown now appears to be spreading across Australia. After starting in Sydney earlier in the year, Australia's housing market slowdown now appears to be spreading across Australia.

National home prices remained flat last week , but the continued drift in Sydney means they dropped on a monthly basis. Home values excluding auctions in the week to January 7 were steady as slight falls

National home prices remained flat last week , but the continued drift in Sydney means they dropped on a monthly basis. Home values excluding auctions in the week to January 7 were steady as slight falls

  Flat week for capital city house prices © AAP Image National home prices remained flat last week, but the continued drift in Sydney means they dropped on a monthly basis.

Home values excluding auctions in the week to January 7 were steady as slight falls in Sydney and Perth offset a marginal gain in Brisbane, according to preliminary figures released Monday by property data group CoreLogic.

On a monthly basis, however, home prices across the combined five capital cities fell 0.4 per cent, dragged down by weakness in Sydney's housing market - which dipped 0.7 per cent in the month.

Melbourne is slightly more resilient than the harbour city, sliding a mere 0.2 per cent in the month, while Perth also declined, down 0.4 per cent.

Brisbane and Adelaide rose 0.1 per cent and 0.2 per cent in the four weeks, respectively.

CoreLogic will resume reporting of weekly auction statistics with its next set of results.

Australia shares seen edging up as oil prices firm; NZ up .
Australian shares are expected to recover from two straight sessions of falls on Friday, latching on to solid leads from Wall Street inspired by higher oil prices. Wall Street surged to record highs on Thursday on the back of rising oil prices and as investors bet on a strong U.S. corporate earnings season. Oil settled at three-year highs on signs that global inventories were tightening. [.N] [O/R]The local share price index futures (YAPcm1) rose 0.3 percent or 17 points to 6,030, a 37.6-point discount to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark fell 0.5 percent on Thursday.

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