Australian house prices retreat for first time in nearly two years

Falling house prices in Australia could signal the start of interest rate cuts. (Image: Getty)

Fri, 03 Jan 2025

By James GlynnAustralian house prices recorded their first monthly decline in almost two years in December, but relief for the market appears close amid growing speculation the Reserve Bank of Australia will start cutting interest rates from February.House prices rose 4.9% in 2024, but December registered a 0.1% drop, the first since January 2023,according to property research group, CoreLogic.Price falls deepened in Melbourne and Sydney, the country’s two biggest property markets, while other state capitals also showed signs of weakening...

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