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Houses and apartment buildings are seen in the Brisbane suburb of Hamilton, Thursday, October 25, 2018. Brisbane’s median value has dropped 2.1 percent over the past 12 months. (AAP)
Australia’s property market is showing signs of life after nearly two years of plummeting prices, but that doesn’t mean owners are rushing to cash in.
New data by property research firm CoreLogic shows that while mortgage rates have reached their lowest level since the 1950s, house sales have fallen steeply too, even as values start climbing.
Over the twelve months to August 2019, house sales fell 17 percent and are about 30 percent below the peak level of sales recorded in September 2015.
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