(MENAFN) House prices of Capital city have dropped in the three months to September, resulted by the biggest drop in prices in Sydney in 2015.
According to the Australian Bureau of Statistics' Residential Property Price Index, standard home prices over eight capitals dropped 0.2% in the Sep. quarter, which is the first drop since the March quarter of last year.
House prices in Sydney have dropped 1.4%, which is the biggest drop since a 1.6 fall in the December quarter of 2015.
JP Morgan economist said: "Our expectation is for national dwelling price inflation to continue moderating in 2018 as macro-prudential measures weigh on lending activity and the record number of dwellings currently under-construction are completed, adding to supply."
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