iscover
Staff Reporter
Making headlines today, The Australian Financial Review has reported wealthy investors have lost interest in residential property.
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Baby boomers are increasingly seeking liquid assets as they move into retirement, a turn that could keep property markets weak for years to come.
Fears that property is overvalued have driven investors towards bank term deposits with safe, long-term returns.
The dollar value of property sold by Ray White Group was 16 per cent lower in March this year than in March 2010.
Ray White Group chairman Brian White said investors have become increasingly disenchanted with the residential property market and were currently avoiding it.
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