Tag Archives: lower prices

Private-home sales down 80% last month

SALES of new homes plunged last month to their lowest level in five years as cooling measures and economic uncertainty hit the market. Developers released fewer units in the wake of growing resistance from buyers, who are becoming increasingly keen to hold out for lower prices. The result was that only 259 units were sold last month - the lowest since January 2009 and a remarkable 80 per cent down on the 1,271 units snapped up in November.

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