Median house prices in Australia grew 3.1% quarter-over-quarter to A$542,000 in the March quarter, slowing from the 4.8% increase in the preceding quarter, data released by the Australian Property Monitors showed on Thursday.
APM said strong population growth, rising incomes, and falling unemployment were offsetting the impact of the Reserve Bank of Australia's interest rate hikes and were continuing to push up house prices.
On a yearly basis, house prices surged 16.2% in the March quarter - the fastest pace in six years.
This follows a 12.1% increase in the December quarter.
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