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Stable house prices could be here to stay, says senior economist

A senior economist at the Commonwealth Bank of Australia says the property market could be improving as prices remain stable for the second month in a row.

CoreLogic’s results for July show the value of property in Australia’s capital cities has increased by 0.1 per cent following a slight increase the month before.

CBA Senior Economist Gareth Aird tells Ross Greenwood the analysis is positive.

“I think today’s numbers are actually going to be the start of a trend.

“We see some modest rises across Australia’s biggest capital cities.”

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CoreLogic head of research Tim Lawless tells Ross prices aren’t necessarily on the rise.

“We’re not seeing a surge in values or a rapid recovery… It looks more like a stabilisation to me.

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