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Australia: Pressure on in housing market

Posted on 08 November 2010

From The Age: Agents expect a challenging next few weeks, after the property market recorded its lowest clearance rate since December 2008. Of the 633 properties auctioned on the weekend, 61 per cent sold, according to the Real Estate Institute of Victoria.
It is a sharp contrast to the ‘’super Saturday” two weeks ago, which had clearance of 67 per cent from more than 1000 auctions. Craig Stephens from agent Jas H Stephens said the market was ”extremely cautious” in its first test after last week’s interest rate rise……………………………………….Full Article: Source


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