Australia home price growth hits lowest level in a year
National home prices rose 0.3 percent in April as higher interest rates and energy costs weighed on demand. Sydney and Melbourne values fell by 0.6 percent.
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Australia home prices rose 0.3% in April to a median A$940,048, the slowest growth pace since January last year, just before the start of the RBA's rate-cutting cycle that fuelled house prices. Higher borrowing costs and energy prices pushed Sydney and Melbourne into 0.6% declines as the RBA raised rates to 4.1%. Investors monitoring the EUR/AUD pair should note fading momentum as affordability constraints and sentiment hit the housing market.
