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(CEP News) - The Australian housing price index resulted in a modest gain of 1.1% in Q1, following the Q4 2007 result of a 4.1% increase.
Mixed results were seen in the housing price index, as Melbourne, Brisbane, Adelaide, and Canberra led the charge with increases of 4.1%, 2.8%, 2.1% and 1.00% respectively. The index was dragged down by drops in the index for Sydney, Darwin, Hobart, and Perth showing price declines of -1.5%, -1.3%, -0.7%, and -0.6% respectively. In year-over-year figures, the housing price index remains unchanged at 13.8% from Q4 2007. By Steve Stecyk,
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, edited by Cristina Markham,
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