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Australia: Low interest rates strengthen overall property market, but resistance remains: RBA

Posted on 18 March 2013

While low interest rates have boosted prices in many residential markets across Australia, they remain below earlier peaks in most markets, the Reserve Bank of Australia has noted. The general improvement in sentiment was apparent in auction clearance rates, the bank assistant governor (economy) Christopher Kent said in an address to The Australian Institute of Building last week.
“After falling sharply in 2011, these rates recovered to around average levels in both Sydney and Melbourne in late 2012 and they appear to have increased further early this year,” he said………………………………………..Full Article: Source


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