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1.Market Observations, 8.Was Sticky

28 May 2018 (AFR) – Auction bounce back for Sydney, Melbourne but market still ‘unforgiving’

(28 May 2018, AFR, p3, by Matthew Cranston)

‘Bargain hunters have jumped back into the housing market sending auction clearance rates back above 60 per cent in Sydney and Melbourne, but agents and experts don’t expect a recovery in house prices any time soon. Economists’ predictions of further falling house prices did not deter buyers at the weekend whose bidding at auctions delivered a 63 per cent clearance rate in Sydney, up from 48.7 per cent, according to Domain. Melbourne edged higher to 61.3 per cent from 57.3 per cent.’

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