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Article: Rate rise to impact on house prices: REIA.(Real Estate Institute of Australia)(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- March 8, 2005
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Mar 08, 2005 (The Sydney Morning Herald - ABIX via COMTEX)
The recent interest rate rise in Australia will affect the nation's already subdued housing market. So believes the Real Estate Institute of Australia (REIA). According to its figures, the median house price in the December 2004 quarter was $A371,853, higher than the averages in both the previous quarter and the corresponding period in 2003. However, it found much flattening of prices for flats, units and townhouses following the growth in 2003. The REIA says the Reserve Bank of Australia needs to take into account the changes in the housing sector ...