Australian house prices rose 0.4% in September, mostly in line with July and August's changes as momentum slows, according to a Tuesday report from CoreLogic.
Values rose 1% nationwide in the September quarter, the lowest increase in the national Home Value Index over a rolling three-month period since March 2023, the report stated. Four capital cities' values fell in the quarter, led by Melbourne's 1.1% fall.
The growth lag comes as more homeowners look to sell, with new listings 3.2% higher than a year ago nationally and 8.8% higher than the previous five-year average for this time of year, the report stated.
"The rise in real estate inventory is a seasonal trend, with spring and early summer one of the busiest periods of the year for selling," said CoreLogic research director Tim Lawless. "However, the flow of freshly advertised housing stock hasn't been this high at this time of the year since 2021."
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