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Stagnant property market disappoints sellers

09/09/2010

National property sales are down twenty per cent on the same time last year according to data from the Real Estate Institute of Australia. Many vendors put off their spring listing until after the election but are further hampered by a lack of demand from buyers.

Buyers Rep Byron Rose said “There’s a bit of a stagnant market at this stage. Rose said not having a government has delayed buyers and sellers from making decisions. Property author Ray Wood said interest rate uncertainty in the future would prompt him to advise to sell now. Real Estate Institute President said the market had been unusually quiet or the last four months.

Source: The Australian



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