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Australia: Housing market recovery will take time, says RBA

Posted on 13 November 2012

The Reserve Bank of Australia has poured cold water on new home buyers expecting big increases in property prices. A senior Reserve Bank official said in a speech in Sydney today that although growth in new dwellings had trended downward alongside an uptick in population growth, a large increase in prices was unlikely.
More broadly, the subdued housing market will take time to gain traction, Jonathan Kearns, head of economic analysis at the RBA said. “Overall, it looks likely that dwelling investment will pick up at a relatively moderate rate in the medium term,” he said………………………………………..Full Article: Source


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