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Broker referral partners are feeling the brunt of a slower housing market and an overall weaker economy with the conveyancing industry recording a steep drop in business over 2008.
Australian Institute of Conveyancers president Pauline Barrow said tighter lending practices, a reluctance of owners to sell and employment uncertainty among buyers had seen conveyancing business fall by up to 40 per cent, Perth Now reported today.
Ms Barrow also warned that the slowdown would result in further retrenchments in the industry in coming months.
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