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Many first-time buyers priced out of market across Australia

Posted on 11 April 2013

Housing affordability remains a problem across Australia, with many first-home buyers still priced out of the market despite recent interest rate cuts. JP Morgan’s latest snapshot of the local housing market ranks Australia in second place behind Hong Kong for having the world’s highest house prices.
The report’s co-author Martin North said mortgage repayments remained high because the average loan was getting bigger and the major banks had not passed on the Reserve Bank of Australia’s interest rate cuts in full………………………………………..Full Article: Source

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