House prices in Australia advanced 1.5 percent on quarter in the third quarter of 2016, the Australian Bureau of Statistics said on Tuesday.
That missed forecasts for an increase of 2.5 percent following the 2.0 percent gain in the second quarter.
By region, prices in Sidney were up 2.6 percent on quarter, followed by Hobart (2.3 percent), Melbourne (1.7 percent), Adelaide (0.9 percent), Canberra (0.8 percent) and Brisbane (0.2 percent).
Prices were down 1.6 percent on quarter in Perth and 1.2 percent in Darwin.
On a yearly basis, house prices climbed 3.5 percent - again missing expectations for 4.6 percent and down from 4.1 percent in the three months prior.
By region, prices in Melbourne spiked 6.9 percent on year, followed by Hobart (6.8 percent), Canberra (5.5 percent), Sidney and Adelaide (both 3.2 percent) and Brisbane (3.1 percent).
Prices were down 7.2 percent on year in Darwin and 4.0 percent in Perth.
The total value of Australia's 9.755 million residential dwellings increased A$112.1 billion to A$6.2 trillion.
The mean price of dwellings in Australia is now A$631,000.
Also on Tuesday, the latest survey from National Australia Bank showed that business confidence in Australia inched higher in November with an index score of +5.
That's up slightly from +4 in October, and it remains in positive territory - indicating that optimists outnumber pessimists.
Individually, employment, new orders, stocks, exports and purchase costs all were in positive territory.
The index for business conditions was down slightly to +5 from the upwardly revised +7 in the previous month (originally +6).
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