| Abstract | After falling about 30% from the peak of the cycle in the spring of 1994, residential property prices have staged a slight rebound since October 1995; Improvements in both market sentiment and housing affordability have been the major driving forces behind the recent turnaround; However, with interest rates unlikely to come down significantly in the near term and unemployment remaining at relatively high levels, property prices can only be expected to go up by around 10% for the year as a whole. |
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