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Weekend auctions disappoint

Staff Reporter 1 minute read

Last week’s one per cent rate cut failed to inspire property buyers in a sluggish weekend for property sales.

In contrast to a traditionally strong spring period Melbourne saw an auction clearance rate of just 49.2 per cent – down substantially from the previous weekend’s 59.7 per cent according to Australian Property Monitors.

Sydney recorded a clearance rate of 49.8 per cent and in Brisbane auctions cleared at a rate of just 23.4 per cent, albeit on a small number of properties.

Published: 13-10-08

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