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Australia House Prices Gain 3.9% In Q4

House prices in Australia were up 3.9 percent on quarter in the fourth quarter of 2019, the Australian Bureau of Statistics said on Tuesday.

That was shy of expectations for an increase of 4.5 percent and up from 2.4 percent in the three months prior.

On a yearly basis, house prices gained 2.5 percent - also missing forecasts for 3.0 percent but up from the 3.7 percent decline in the third quarter.

The total value of residential dwellings in Australia rose A$294.4 billion to A$7,212.6 billion this quarter.

The mean price of residential dwellings rose A$25,400 to A$691,000, while the number of residential dwellings rose by 43,400 to 10,437,900.

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