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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.
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Ms Barrow also warned that the slowdown would result in further retrenchments in the industry in coming months.
