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Australia: Property market takes another hammering

Posted on 13 October 2008

From Theage.com.au: Panic on Wall Street and world sharemarkets has quickly spilled into property, spooking buyers and sellers, pushing Melbourne’s weekend auction clearance rate down 4%.

In some suburbs less than half the houses and units listed for auction found a buyer. Real estate agents reported that conversations at public auctions and open-for-inspections were dominated by the collapse of the Australian sharemarket on Friday and fears of worse to come this week….. Full Article: Source


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