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Coastal properties to recover

Experts say coastal housing markets could soon see a recovery.
<div $$hash="8516-0"><p $$hash="8515-0">Property investors could profit from coastal housing again according to property analysts RP Data.



<p $$hash="8536-0">Senior economist Tim Lawless told The Age: “We might be seeing a bit of a turnaround in interest levels in lifestyle property, particularly across the more affluent parts of the population.”



<p $$hash="8535-0">He said that this was due in part to a rise in the sharemarket, strength in the employment market and more equity. However, he felt that a full recovery could be gradual.



<p $$hash="8547-0">Recently, the Australian Bureau of Statistics (ABS) said that unemployment levels were at 5.4 per cent. This is particularly low compared to other economies worldwide.



<p $$hash="8549-0">Monetary easing has helped people to gain equity as interest rates on loans are now much lower. The Reserve Bank of Australia (RBA) has decided to hold its benchmark rate at three per cent after cutting it by 1.7 per cent since 2011.



<p $$hash="8551-0">The RBA has said that it has seen improvements in the economy since the rate cuts. This has, in turn, boosted the property market across Australia.



Posted by Ravin Chatlani

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