Reserve Bank to cut interest rates as housing prices crash

by admin on November 4, 2008

Sydney and Melbourne prices both dropped by the national average, while Perth prices were down 1.1per cent.Retail sales fell by 1.1 per cent in September, with consumers deserting the shopping strips, leaving sales by small retailers down 3.3 per cent.Internet-based job advertisements are now down by 7.7 per cent from a year ago, whereas they were surging ahead by 22.8 per cent as recently as April this year. 

theaustralian.news.com.au