AAP General News (Australia)
12-03-2003
Fed: Housing industry condemns interest rate rise
The New South Wales Housing Industry Association says today's rise in official interest
rates is unwarranted and disappointing.
The association's executive director ELIZABETH CROUCH says the Reserve Bank decision
to increase the official interest rate by a quarter of a percentage point has come too
early.
Ms CROUCH says the first interest rate rise hasn't yet had its full impact.
She says people will become more cautious about home buying, leading to an overall
cooling of the industry.
She says auction clearance rates, traffic through display home villages and deposits
on new homes have already dropped off.
AAP RTV ea/sd/rca/rp
KEYWORD: RATES HIA (SYDNEY)
2003 AAP Information Services Pty Limited (AAP) or its Licensors.
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