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- New data finds the national median home value is now $753,654.
- There has been slower home price growth over November.
- Melbourne recorded a 0.1 per cent decline and Sydney a weak 0.3 per cent lift.
A separate property price index from PropTrack also found a record high in November.
Yet both property data outfits recorded slower home price growth over the month.
Unit prices painted a similar picture state-by-state, however, Brisbane recorded the largest jump, with 9.17 per cent growth year-on-year.
The 0.6 per cent increase in the CoreLogic index was the smallest monthly gain in the latest streak of growth that kicked off in February.
Sydney home prices could also follow Melbourne into decline, with the city’s housing market slipping into negative growth in the final week of the month.
“The Melbourne Cup day rate hike has clearly taken some heat out of the market, but other factors like rising advertised stock levels, worsening affordability and persistently low consumer sentiment are also acting as a drag on value growth in some markets,” he said.
“Looking ahead, price growth is expected to continue as the positive tailwinds for housing demand and a slowdown in the completion of new homes counter the sharp deterioration in affordability and slowing economy,” she said.