Australia property market is in danger

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AFP

Australia's real estate market showed signs of recession as construction level contracted essentially, according to official data. House building activity dropped by 10.7% in October after tumbling by 14.2% in September, reported Australian Bureau of Statistics. Housing starts decreased by 30% on a yearly basis. Analysts warn Australian real estate market resembles situation in the US before the property market crash.

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