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Australia house prices slip 0.2% in Q1

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Staff writer |
Australia house
Down Under   The Australian Bureau of Statistics:

House prices in Australia were down 0.2 percent on quarter in the first quarter of 2016, the Australian Bureau of Statistics said.

That missed forecasts for an increase of 0.8 percent following the 0.2 percent gain in the previous three months.

On a yearly basis, house price advanced 6.8 percent - also beneath expectations for 7.5 percent and slowing from 8.7 percent in the three months prior.

This marked the first decline since the third quarter of 2012, due largely to declines in prices of attached dwellings - while established house prices were roughly flat.

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