Australia home price growth slows in Nov

[SYDNEY] An index of home prices for Australia's major cities rose only marginally in November, a slowdown after two months of strong gains that should temper concerns about a bubble, industry data showed yesterday.

Figures from property consultant RP Data-Rismark showed overall dwelling prices rose 0.1 per cent in November, from October when they climbed 1.3 per cent.

Annual growth in its home price index edged up to 8.0 per cent, a three-year high, from 7.9 per cent in October. Gains were led by Sydney where prices were up 12.5 per cent on November last year, while Perth recorded growth of 8.9 per cent and Melbourne 6.6 per cent.