Data published this morning show that in Q4 2018 Australian house prices across the nation fell by 2.4 per cent Q/Q for a record annualised decline of 5.1 per cent (with data since 2004). The drop is equivalent to AU$133.1 billion and makes the chance of any rate rise in the Cash Rate from the current record low 1.5 per cent unlikely. Sydney has taken the biggest hit with real (adjusted for inflation) house price falls since the June 2017 peak of 16 per cent.
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