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Australian households are saving more and paying down their debt but indebtedness remains historically high, the Reserve Bank of Australia said in its half yearly Financial Stability Review.

The RBA said that while the reduced debt levels and increased savings had increased the resilience of the banking sector, it had an effect on the housing market.

‘The moderation in demand for housing finance contributed to some cooling in the housing market in 2010’.

Real Estate Aireys Inlet

James Worssam
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