Australian home prices have recorded their weakest increase in nearly two years.
Data from CoreLogic found house prices increased just 0.1 per cent nationally in the last month of spring, the lowest increase since January 2023.
Nationally, prices grew 5.5 per cent over the year and the median value of housing was now at $812,933.
On a rolling quarterly basis, values fell in four of the eight capital cities, led by Melbourne, which was down by 1%, with Darwin at 0.7%, Sydney off 0.5% and Canberra 0.3% lower.
CoreLogic head of research Eliza Owen said this was the 22nd straight month of national growth but that could not be expected to continue, even with interest rate cuts.
Owen also noted the market was turning towards providing benefits for buyers more than sellers.
CoreLogic data found that that based on the volume of houses and units advertised for sale over the four weeks to November 24, capital city listings are now up 16% since the end of winter.