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House prices in Australia were up 1.6 percent on quarter in the first quarter of 2020, the Australian Bureau of Statistics said on Tuesday.
That was shy of expectations for an increase of 2.7 percent on quarter following the 3.9 percent gain in the three months prior.
On a yearly basis, house prices climbed 7.4 percent versus expectations for a gains of 5.5 percent following the 2.5 percent increase in the previous three months.
The total value of residential dwellings in Australia rose A$141.6b to A$7,237.1b this quarter.
The mean price of residential dwellings rose A$10,700 to A$690,200 and the number of residential dwellings rose by 43,700 to 10,485,700.
