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Australia: Hope for turnaround in property market

Posted on 12 November 2012

As Australia’s slowly thawing property market heads into summer, green shoots are appearing that give hope for a sector-wide turnaround. Research commissioned by The Australian this week shows that more than half of those surveyed think now is a good time to enter the market.
It comes after a tough year for Australia’s home owners, with prices having drifted downwards or sunk - depending on the city and the suburb in which you live. Auction clearance rates have been improving since winter. In Sydney, weekend auction clearance rates haven’t dipped below 60 per cent for the past two months - the strongest run of consecutive clearance rates since autumn 2010………………………………………..Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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