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STOCK MARKETS

Cotality Cuts Australian Home Price Growth

Cotality reports Australian home prices stagnated in May. Sydney and Melbourne saw declines, while Perth and Darwin rose.

David Wilson
ByDavid Wilson- Senior Editor
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0
Cotality Cuts Australian Home Price Growth
Photo: Prepared by Bond.az

Bond.az reports that Australian home prices stagnated in May due to higher borrowing costs and tax reforms, according to Cotality.

Sydney and Melbourne fell 0.9% and 0.8% respectively. Perth and Darwin rose 1.5% each.

The government announced tax changes in April. The Reserve Bank raised rates three times this year.

Sydney's median price is near A$1.3 million. Rents rose 0.6% in May.

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