PHOTO: Photo: 123RF
House price growth has eased for the third month in a row suggesting efforts to cool the market may be working.
Quotable Value’s rolling three-month average House Price Index to the end of July rose 4.3 percent over the month earlier, which was down from 6.6 percent growth in the month earlier.
The national average value was $952,078 last month, representing a year-on-year increase of more than 26 percent, little changed from growth seen in June.
Recent efforts to cool the market included tax measures, along with the reintroduction of bank lending restrictions for owner occupiers and investors.
Further measures were expected, including debt-to-income restrictions.
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