House price growth slows

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House price growth slowed by 1.1% over the June quarter, while Sydney and Melbourne showed the strongest increases.

Australian Bureau of Statistics figures have confirmed that house price growth has slowed, with growth for the June quarter at 3.1%, compared to 4.2% in the March quarter. Full-year figures, meanwhile, show the house price index up 18.4% when compared with June 2009.

Sydney and Melbourne showed the strongest increases in the quarter at 4.9% and 3.6% respectively, closely followed by Adelaide at 3.2%.

Slowest growth amongst the capital cities occurred in Perth (0.4%), Brisbane (0.3%) and Hobart (0.1%).

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