Australian House Price Growth Loses Steam in November

Weaker housing market conditions occurred in November despite strong upward pressure on house prices across the country.

A woman walks past an auction sign outside a house in Melbourne, Australia, on Sept. 5, 2023. William West/AFP via Getty Images

Australia’s national house prices have seen the smallest growth in the past ten months as complicated market factors slow down the property market’s recovery.

According to the latest insight from real estate data firm CoreLogic, national home values rose by 0.6 percent in November, down from 0.9 percent in October, and 0.7 percent in September.