10.10.2008 - Australia: Positive shift in property market
From Yourguide.com.au: For the first time in almost two decades, the Reserve Bank of Australia has dropped interest rates by one per cent, marketing the second consecutive cut after a series of increases. This second interest rate cut and the passing on of savings of up to 0.8 per cent by most major banks has further buoyed consumer outlooks, and those of many in the real estate profession. The decision to drop the rate is likely to encourage more buyers into the market, a positive sign that there is still money to be made. Jenny Meek of Century 21 Sapphire Region, based in Inverell says the outlook for the Australian property market is not as bad as perhaps some forecasters were predicting, and real estate agents share the optimism of many consumers nationally..... Full Article: Source
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