06.10.2011 - Australia’s housing market still cooling
Australia’s housing market continues to weaken in the first half of 2011, following the Reserve Bank of Australia (RBA)’s action in hiking the key interest rate to 4.75% in November 2010, up from 3% in September 2009. RBA has kept the key rate unchanged since then. The house price index for 8 capital cities dropped 1.87% during the year to end-Q2 2011, according to the Australian Bureau of Statistics (Austats). When adjusted for inflation, house prices actually fell by 5.28%..............................................Full Article: Source
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