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NSW housing – the saviour for the state and the nation
Over the first half of 2012 the Reserve Bank of Australia finally started cutting interest rates and the debacle in Europe reached disturbing heights. All the while, non-resource sectors of the Australian economy continued to suffer with housing leading the unwanted charge.
Australia has reached a crossroads as housing perennially under-performs, manufacturing is in danger of hollowing-out, and the resources boom falters to expose Australia’s vulnerable eggs in one basket strategy. Front and centre in terms of the way forward is New South Wales and housing is the obvious catalyst for recovery.
So what has lower interest rates done, and what is government policy doing and in need of doing to kick-start the housing industry in NSW in 2012/13? HIA Chief Economist, Harley Dale, will address this question in outlining what can make this year the beginning of a sustainable housing and economic recovery.
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