Slower December house price growth - RBA

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December minutes of the Reserve Bank of Australia reveal housing price growth in the country slowed slightly, but regional variations still continue.
 
The data also named Sydney as the strongest market.
 
"Members noted that credit to owner-occupiers was growing at a pace only a little above that of income, but that growth in credit to investors was considerably higher," the minutes said.
 
"The available data suggested that dwelling investment was likely to subtract a little from growth in the September quarter.”
 
Meanwhile the minutes also said aggregate housing price growth slowed a little as well.
 
"However, building approvals and other forward-looking indicators of residential building activity continued to suggest that dwelling investment would contribute to growth in coming quarters,”  the minutes stated.
 
"Lending rates on the stock of outstanding housing and business loans remained at historically low levels.”

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