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PHOTO: Adelaide is now Australia’s cheapest capital city.
Australia’s housing market got a battering over the Christmas break, with capital city home prices posting the biggest monthly fall in 36 years over December.
The total decline for the month was 1.3 per cent, the largest price fall in a month since January 1983, according to CoreLogic’s hedonic home value index that was released today.
The weak December activity meant the average price of a home in the country’s capital cities fell 6.1 per cent for 2018, the sharpest yearly decline in prices since March 2009.
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