Investors pull out of the housing market as downturn broadens | ABC NEWS

Domain has officially declared the housing market in a downturn. Sydney and Melbourne — historically the most vulnerable to market fluctuations — have seen the steepest falls, while unit prices in all major cities except Darwin fell.
Domain's chief of research and economists Nicola Powell says investors are pulling out of the market, and an interest rate cut is the only factor that could curb price falls.
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