Australia’s home-price growth showed further signs of cooling in December as deteriorating affordability and rising borrowing costs help take some heat out of the market.
Bellwether Sydney rose 0.2%, while Melbourne declined 0.3% for a price increase in Australia’s major cities of 0.4%, property consultancy CoreLogic Inc. said in a report Tuesday. The weaker pace in the two biggest cities was offset by mining-powered Perth and Brisbane, which rose 1.5% and 1% respectively.
