Effect on average prices of falls in secondary segment may be muted

Transactions activity has cooled recently, with anecdotal evidence suggesting a buyer/seller stand-off in the secondary segment has been a contributing factor. On IPD data, this segment is fairly small, so resolving any buyer/seller mismatch through lower prices may have only a limited effect on average prices. Even so, this adds to the growing downside risks to all-property capital values in 2011.

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