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Sydney property market heading toward three-year high

Posted on 11 March 2013

For the third week in a row Sydney’s property market had a clearance rate above 70%, with analysts forecasting a return to strength not seen since autumn 2010. Australian Property Monitors reported a 72.7% clearance rate for the weekend, significantly higher than the 56.6% of properties sold in the corresponding weekend last year.
Analysts are growing steadily more confident the market may maintain these high numbers, but the real test will be over the Easter period, with thousands of houses up for grabs throughout Australia. AMP senior economist Andrew Wilson told SmartCompany the period leading up to Easter will be a “strong, solid test for the market” in Melbourne and Sydney………………………………………..Full Article: Source


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