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Reuters
Reuters
Business

Australia's NAB sees faster uptick in housing demand, cuts fixed home loan rates

FILE PHOTO: The logo of National Australia Bank is displayed outside the firm's headquarters in central Sydney, Australia, Aug.4, 2017. REUTERS/David Gray

National Australia Bank Ltd said on Monday it had seen a quicker-than-usual uptick in domestic housing market demand after Christmas, and lowered some fixed home loan rates.

NAB, which last week posted a pick up in quarterly profit from the previous two quarters and pointed to an improving economy, said it expects house prices in Australia's capital cities to rise by about 10% this year.

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