NSW police said they have dismantled an organised criminal syndicate and seized more than A$250,000 following an investigation into identity theft. Police will allege in court the syndicate created more than 300 fraudulent accounts through an online banking portal and used these to apply for credit and loans to the value of more than $2 million. The fraudulent credit cards were used to withdraw cash, purchase furniture, clothing, motor vehicles, and jewellery, and pay for day-to-day expenses. As well as arresting at least five people, detectives from the State Crime Command's Financial Crimes Squad seized $27,000 cash, credit cards in various names, identity documentation, financial documentation, and a Mercedes Benz, a Mitsubishi, a BMW, and various items believed to be proceeds of crime, along with safety deposit boxes holding more than $256,000 in cash. The Australian Bureau of Statistics has released its residential property price indexes for the June quarter, showing the weighted average of the eight capital cities fell 0.7 per cent in the June quarter 2018. The index fell 0.6 per cent through the year to the June quarter 2018. Specific capital city residential property price indexes movements for the June quarter were summarised by CommSec as: Sydney (-1.2 per cent), Melbourne (-0.8 per cent), Perth (-0.1 per cent) and Darwin (-0.9 per cent); and rose in Brisbane (+0.7 per cent), Hobart (+3.0 per cent), Adelaide (+0.3 per cent) and Canberra (+0.6 per cent). Annually, residential property prices fell in Darwin (-6.1 per cent), Sydney (-3.9 per cent) and Perth (-0.9 per cent), and rose in Hobart (+15.5 per cent), Canberra (+3.0 per cent), Melbourne (+2.3 per cent), Adelaide (+2.1 per cent) and Brisbane (+1.7 per cent).