It should not surprise people that Australian house prices dropped last year. What is surprising is how little they fell.
The latest numbers from RP Data show that house prices across Australia’s capital cities fell 0.4 percent in 2012. Melbourne houses lost the most value, with prices down 2.9 percent. Brisbane and Adelaide both lost 0.8 percent. Hobart lost 0.1 percent. Sydney and Perth defied the trend, growing 1.5 and 0.8 percent respectively.