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Australia: Real estate begins to bloom

Posted on 03 September 2012

The residential property market sprang to life on the first day of spring after months in the doldrums, with strong auction clearance rates in Sydney and Melbourne. There was little cause for optimism in the lead-up to the first day of the spring selling season because of the depressed market.
However, Melbourne recorded a 63 per cent clearance rate, according to the Real Estate Institute of Victoria (REIV), up from 55 per cent for the same time last year. In Sydney there was a 63.9 per cent clearance rate, according to Australian Property Monitors………………………………………..Full Article: Source


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