SYDNEY (Reuters) – Australian home costs pushed greater in August, publishing a 19th straight regularmonthly increase, though the speed of development revealed some indications of slowing, information revealed on Monday.
Figures from residentialorcommercialproperty expert CoreLogic revealed nationwide home rates increased 0.5% in August, somewhat above the downwardly modified 0.3% increase in July. Prices, which have continued to hit record highs giventhat bottoming out early last year, are up 7.1% from a year earlier.
But CoreLogic stated the quarterly boost of 1.3% is now less than half the rate of development in the exactsame three-month duration a year earlier.
“While seasonality might have contributed to weaker worth development through winterseason, price restrictions are a secret aspect behind the wider downturn,” CoreLogic’s Head of Research Eliza Owen stated in a declaration.
Still, there is more need for realestate than supply though the market was endingupbeing “increasingly wellbalanced,” Owen s