Australia’s Home-Price Gains Cool With RBA Pivot Denting Outlook

Australia’s home-price growth decelerated in December and the two biggest markets edged lower, as the risk of renewed interest-rate hikes weighed on both sentiment and the outlook for property in the year ahead.

The Home Value Index in major cities advanced 0.5% from a month earlier, with both Sydney and Melbourne dipping 0.1%, property consultancy Cotality said Friday. Mining hub Perth and the southern city of Adelaide led gains at 1.9% apiece, followed by 1.6% rises in both Brisbane and Darwin.