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Buyers wait for election outcome

27/08/2010

Leading property research firm RP Data said property buyers are likely to remain on the sidelines of the market until the outcome of last weekend’s federal election is revealed. “We do expect to see improvement in the coming weeks as the spring selling season grows nearer and more certainty returns to the political environment,” the data provider commented yesterday.

Total advertised property listings increased by 1.0 per cent over the last week with total listings now 5.3 per cent above the 12 month average level, prices are expected to remain stable throughout the months ahead. “The market was relatively flat (-0.2 per cent) and over the month of June home values fell by -0.8 per cent,” said RPData. “For the remainder of the year we are expecting fairly flat levels of growth.”

Source: The Advisor



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