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Australia: Property comeback on hold for 12 months

Posted on 06 October 2008

From Theaustralian.news.com.au: Property investors and home owners hoping for a revival in the housing market will have to wait another year, according to experts, as property clearance rates around the country took another hammering over the weekend.

Australian Property Monitors senior economist Liam O’Hara said that confidence would not be restored in the property market until interest rates had been “reduced dramatically”. “When the (financial) system breaks down, investments like property and shares are in doubt as a general flight to liquidity develops,” he said….. Full Article: Source


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