More AUD data - house prices up q/q and down y/y

The quarterly survey of house prices via the Australian Bureau of Statistics

Which is not closely watched as monthly data is more timely from the Core logic survey.

Anyway, from the ABS House price index for Q3 2019:

• +2.4% q/q (expected +1.5, prior -0.7)
• -3.7% y/y (-4.6 and -7.6%)

Stabilising house prices, indeed rising prices, should be a boost for housing-related sectors. The major centres of Sydney and Melbourne are showing price growth again in recent months, following the election and subsequent RBA rate cuts.