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Clearance rates continue upward trend

By Staff Reporter
17 August 2009 | 1 minute read

Auction clearance rates were up in almost every capital city this weekend, according to Australian Property Monitors (APM).

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The auction clearance rate in Sydney hit a healthy 74.2 per cent, with $84.2 million in property sold.

A free standing six bedroom house in Abbotsford topped the list in terms of sales price at $4.17 million; a two bedroom unit in Cabramatta the cheapest at $180,000.

In Melbourne, the clearance rate hit 74.4 per cent for a sales volume of $71.2 million.

According to APM, consistent clearance rates of more than 70 per cent will give vendors great confidence going into the spring selling season.

While clearance rates improved this week for both Adelaide and Brisbane, they were still well below 70 per cent. Adelaide recorded a clearance rate of 65.2 per cent; Brisbane 48.3 per cent.

In Adelaide 15 properties were sold for a total of $5.0 million, up from six properties last Saturday.

Clearance rates continue upward trend
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top suburbs

12 month growth
Travancore
49.78%
Timboon
49.57%
Dolphin Point
49.51%
Nyah West
49.42%
Preston Beach
49.29%
Newington
48.97%
Killcare Heights
48.89%
Wundowie
48.77%
Homebush
48.44%
Glenside
48.28%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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