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Sydney property buoyant in slump

Posted on 09 October 2008

From SMH: Sydney is unlikely to experience the house price collapses affecting other international cities but the least expensive suburbs will outperform the top ones this year, says Shane Lee, the director of economic and market analysis at Citigroup.

“The credit crunch is having a significant impact on the Australian financial services sector which is now in recession. This poor performance is likely to weigh on the Sydney housing market over the next year as income growth in the industry falls,” Mr Lee said…… Full Article: Source


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