Residential property prices in Australia were down 0.2 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Tuesday.
That missed forecasts for a gain of 0.5 percent following the 1.9 percent jump in the previous three months.
On a yearly basis, house prices were up 8.3 percent - again missing forecasts for 8.8 percent and down from 10.2 percent in the three months prior.
The total value of residential dwellings in Australia was A$6.779 trillion at the end of the September quarter, rising A$14.843 billion over the quarter.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.