The Performance Construction Index of the Australian housing industry dropped to a seven months low value of 48.4 in March 2008 possibly due to interest rate hike.
Although the UK retail sales balance moved in the upward direction last month, yet industry experts predict woes will scare the retail sales in future too.
The UK housing industry has been underperforming for last few years due to lack of property demand, rising inflation, tight lending process, and slowdown in global economy.
The UK government announced initiatives to infuse growth in the UK housing market by modernizing areas and giving development chances to existing dwellers.
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