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Australia House Price Index Slides 1.5% In Q3

House prices in Australia were down 1.5 percent on quarter in the third quarter of 2018, the Australian Bureau of Statistics said on Tuesday.

That exceeded expectations for a decline of 1.6 percent following the 0.7 percent drop in the three months prior.

On a yearly basis, house prices skidded 1.9 percent - again exceeding forecasts for a fall of 2.0 percent following the 0.6 percent decline in the previous three months.

The total value of residential dwellings in Australia was A$6.847 trillion at the end of the September quarter 2018, falling $70.148 billion over the quarter.

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