growth decelerated in July following an increase in property listings that suggest sellers are taking advantage of current market strength, including those struggling to meet their obligations after rapid interest-rate increases.
Prices across Australia’s capital cities advanced 0.8%, a fifth straight monthly gain, albeit slower than June’s 1.2% pace, data from property consultancy CoreLogic Inc. showed Tuesday. Market bellwether Sydney rose 0.9% while Melbourne grew at a more subdued 0.3%.
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