Australian home prices decline more than predicted

Note: This section contains information in English only.
Source: Bloomberg
Australia's housing prices fell in 2011, making the biggest annual drop since 2002. The gauge estimating prices in eight biggest cities slipped 4.8% compared to previous year. Prices edged down 1% on quarterly basis. Sharp drop in prices might be associated with uncertainty about global economy and its possible effect on property market, suggest analysts. 

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