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House prices continue to have a major bearing on the NSW retail market as a rise in household wealth has supported sustained high levels of retail sales growth. Following a relatively weak Christmas trading period, retail turnover has improved over the six months of 2015 to record annual growth of 6.7% in the 12 months to June 2015. Also contributing to the recent improvement was the February and May interest rate cuts and weakening petrol prices (despite the recent rise), both of which increased household spending capacity.
Source : Knight Frank
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