Slowest growth rate for Australian home prices since 2013

Sydney

AUSTRALIAN home prices grew at the slowest pace in over three years in the last quarter amid tougher rules on investment lending and economic hardship in mining states, a cooling that could reduce hurdles to a further cut in interest rates.

An easing might be needed if business conditions continue to soften at the pace suggested by the National Australia Bank's (NAB) latest survey of 500 firms.