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Australia home prices seen rising 10pct on rate cuts

Posted on 07 January 2013

Australia’s flagging property market is poised to get a boost from record low interest rates and a housing shortage that could boost prices by as much as 10 per cent this year.
The Reserve Bank of Australia has cut the cash rate by 1.75 percentage points since November 2011 to match a 50-year low, which has helped reduce standard variable mortgage costs to 6.65 per cent in November, the lowest in almost two years, central bank data show………………………………………..Full Article: Source


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