HAVING embarked on an international spending spree over the past three
years, Australia's bruised and battered listed property sector could be
forced into a fire sale of its $70 billion offshore portfolio, after
being caught up in the global economic slowdown.
IN
further evidence that the property market has been spooked by rising
interest rates and an uncertain economic outlook, it has emerged that
the nation's largest mortgage broker last month sold 22 per cent fewer
mortgages than it did in the same month a year ago.
