Australia: House prices dropped by -1.3% m/m in Dec - TDS

Analysts at TD Securities point out that the Australian house prices (released earlier) dropped by -1.3% m/m in Dec (more than expected).

Key Quotes

“Weakness continues to be concentrated in large cities, with the biggest decline in Sydney (-1.8% m/m). Sydney prices have dropped -8.9% y/y while prices in Melbourne have fallen -7.0% y/y.”