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Rate cut seen inflating Australia housing bubble

Wednesday, February 11, 2015 - 05:50
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Home prices climbed 7.9 per cent across major cities last year after doubling in the decade to 2011, according to CoreLogic Inc.

Sydney

GEOFF Schippers, a mortgage broker in Sydney, has seen an increase in clients looking for homes to buy since the central bank dropped its benchmark rate to a record low last week.

"At least 70 per cent of my clients are now contemplating investing in a residential property