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Melbourne: Housing market stable amid wider uncertainty

Posted on 15 August 2011

Melbourne’s housing market has proven resilient so far this year. House prices have been stable over the last two quarters, although about 2 per cent lower than at the same time last year. This is nonetheless an encouraging statistic for market stability considering Melbourne house prices rose by nearly 30 per cent between January 2009 and June 2010.

Although latest Australian Bureau of Statistics data showed a decline of 4.8 per cent over the month of June in Victorian housing loans, this was a reasonable result following the strong 22 per cent rise in May……………………………………….Full Article: Source

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