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Sydney and Melbourne continued to lead the nation’s auction activity over the weekend, data from Australian Property Monitors has revealed.
A solid 63.1 per cent of the 358 properties up for auction in Sydney cleared compared with 51.6 per cent at the same weekend last year.
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Melbourne recorded a clearance rate of 61.5 per cent for the 591 properties listed for auction.
In the South, Adelaide recorded a 50 per cent clearance rate – an 8.3 per cent improvement from the week before but significantly down from the 71.6 per cent recorded on the same weekend in 2008.
In Brisbane only 30.3 per cent of the 49 listed properties sold.
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