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Property recovery is sustainable, says SQM

SQM Research say that although the housing recovery is slow it is sustainable.
<p $$hash="6465-0"><span $$hash="6464-0">The recovery that Australian property is currently experiencing is likely to be sustainable, meaning that house prices are going to continue to rise.

<p $$hash="6467-0"><span $$hash="6466-0">Managing director at SQM Research, Louis Christopher, suggested that while the current housing recovery is taking place at a slower rate than the last, in 2009, it is expected to continue for a longer period of time.

<p $$hash="6439-0"><span $$hash="6438-0">He suggested that the reason for the surge in property sales in 2009 was due to the first home buyers grant. While this is no longer available, he said that interest rate cuts had helped to encourage activity within the housing market.

<p $$hash="6447-0"><span $$hash="6446-0">Results from SQM Research have shown that consumer sentiment has been on the rise, as well as the number of properties going up for sale.

<p $$hash="6441-0"><span $$hash="6468-0">This has been proven by the ongoing strong clearance rates from auction weekends in Melbourne and Sydney.

<p $$hash="6440-0"><span $$hash="6445-0">Property prices have been rising across Australia over several months, according to research from the RP Data-Rismark Home Value Index.

<p $$hash="6442-0">Posted by Craig Francis

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