House prices dip

The Age reports on Melbourne’s first dip in house prices “after 17 months of strong gains that increased the typical price for a house from $404,636 to $500,000”. The figures reflect a national downturn revealed in the latest RP Data-Rismark property index. The report also refers to new figures from the Reserve Bank which show that growth in housing credit slowed to 0.4 per cent in June – its slowest growth for any month since July 1984.

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