Housing prices in Australian 8 main cities
dropped 3.7% during period January-November 2011, creating the biggest fall in
12 years on anxiety European debt turmoil may harm the country's economic
growth. Decline in home prices was led by Brisbane slipping 7% and Melbourne
giving up 5.7%, said property researcher RP Data. Home loans increased
by 5.7%, the slowest annual pace since 1977.