Outlook brightens for house prices
The RBA's decision to cut rates on Melbourne Cup day resulted in an immediate impact on house prices, with properties in Australia's capital cities recording their first price rise of the year in November
The RBA's decision to cut rates on Melbourne Cup day resulted in an immediate impact on house prices, with properties in Australia's capital cities recording their first price rise of the year in November.
Yellow Brick Road's Mark Bouris said there is reason to be optimistic.
"The rise in Australian capital city house prices is proof that the RBA's rate cuts have had a real impact on immediate market recovery," Bouris said. "We believe today's data is just the tip of the iceberg when it comes to positive house price movement heading into 2012 and it looks like for the first time in a long time, Australian home owners are taking back the market."
Source: Broker News
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