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Australia: Housing: Bad quarter, weak year

Posted on 03 August 2011

Building approvals slumped in June, the June quarter and the year to June while house prices for the year to June and the June quarter were also lower. The news came hours before the RBA board meeting which decided to keep the cash rate steady at 4.75%.
The data confirmed for the RBA board, that housing (and house prices) continues to do it tough, like much of the rest of the non-mining economy……………………………………….Full Article: Source


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