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‘Take a deep breath’ says Plibersek on house prices
There are always a few major themes to a sitting week, and one of the biggest threads this week has been concern over falling house prices, and a cooling market.
I think people need to take a deep breath on all of this. Our Treasury estimates are that house prices will continue to grow. They’ll grow more slowly. And that gives people the chance of home ownership. If you go to week auctions at the moment, there’s still a lot of buying going on, but it’s first home–buyers who are actually having a shot at the market …
Most people don’t buy a house and sell it tomorrow either. That’s the thing that we need to keep in mind. People buy a house and stay there.
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