For the year (2017) dwelling prices +4.3%, a significant slowing in growth
- December +4.3% y/y, from +5.2% in November
And, of course, as you can see in the headline, a fall for the m/m in December (2017)
down 0.4% m/m from November's -0.1%
- Sydney -0.9% m/m (+3.1% y/y)
- Melbourne -0.2% m/m in December, +8.9% y/y
Both the RBA and APRA (the prudential regulator/authority) will be happy with the slowdown, surging prices was something they have both been trying to combat due to concerns on the economy and financial stability.
Let's see how this develops. A small slowdown will be welcome but a rout would not be. The Reserve Bank of Australia has been concerned on high leverage impacting to lower household consumption, but a rapid fall in prices could well have the same impact.
