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Clearance rates continue skyward trend

31 July 2009 Reporter

The clearance rates for Sydney, Melbourne and Adelaide have all exceeded 70 per cent as the surprising resilience of the housing sector continues in August.

According to the Australian property Monitors, Brisbane was the softest market for the week with a clearance rate of 34 per cent.

Melbourne recorded a 78 per cent clearance rate, up from 56 per cent a year ago, while Sydney recorded a 73 per cent clearance rate, compared with 54 per cent 12 months ago.

A free standing four bedroom house in Balmain topped the list in terms of sales price at $1.76 million; a three bedroom house in Rooty Hill the cheapest at $223,000.

In Sydney, 104 houses were sold for a total of $66.6 million.

In Brisbane eight properties were sold for a total of $3.7 million, down from 17 properties sold last weekend.

The total number of houses sold in Adelaide also fell, down from 16 last weekend to just 6 this weekend.

Clearance rates continue skyward trend
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