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Australia: Hope rises for property market on yet more solid auction sales

Posted on 04 March 2013

Analysts are growing more confident of a sustained recovery in the property market following yet another strong weekend of auction clearance rates, with over two-thirds of residential properties selling at auction in Melbourne and Sydney.
However, some warn the market will need to keep its momentum after the Easter break later this month. The Real Estate Institute of Victoria reported 69% of the 884 properties on the market sold, down from 72% last week, but up 8% from this time last year………………………………………..Full Article: Source


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