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AU Property prices slip

Property Here - Tuesday, June 04, 2013

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PROPERTY prices have fallen 1.2 per cent across most of Australia, according to a nationwide industry report.

The May RP Data-Rismark Hedonic Home Value Index, a monthly report gauging the cost of housing across the country, reveals each city's home values dipped slightly, except in Perth and Hobart where they rose 1 per cent and 2.2 per cent respectively.

Although Australian property values are down for the second consecutive month, they are still 2.9 per cent higher compared to the same month last year.

Sydney has remained the most expensive city for residential property, with the median dwelling price, including both units and houses, currently sitting at $580,000.

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