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Interest rate rise to affect NSW property - rents to rise again. |
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The Reserve bank Board decision to increase interest rates and other .25 % yesterday will slow an already fragile property market in NSW.
The NSW market has been in the doldrums since the introduction of the ?Exit Tax? in 2004. Subsequent interest rate rises continue to have a dampening effect on the property market in NSW. Available stock is already at historically low levels and accommodation is at crisis levels, which has led to significant rent increases.
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