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NSW weekly market wrap
6 November 2011
“Tuesday's 25-basis-point reduction in official interest rates is expected to provide modest stimulation to the property market over the coming months. While the saving is a relatively small amount - around $600 a year on the average NSW home loan - interest rate cuts can lead to an increase in consumer sentiment that outweighs their dollar-value. This week saw a clearance rate of 59 percent, with 362 properties selling from 612 reported results.”
Tim McKibbin
REINSW CEO
Please direct media enquiries to Julian Brophy on 0408 276 749.
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