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Despite the threat of further rate rises, the property market has continued to perform well over the weekend.
In Sydney, 71.3 per cent of all properties put up for sale cleared, a slight improvement on last weekend’s 69.7 per cent clearance rate.
The most expensive property sold in the city over the weekend was a five bedroom house in Avalon, which sold for $5.1 million.
The cheapest property sold under the hammer was a three bedroom house in Eschol Park for $186,000.
Melbourne’s auction clearance results dipped slightly this weekend compared to last, but remained in positive territory at 75.3 per cent.
Meanwhile, Adelaide and Brisbane both showed consistent results.
Adelaide recorded an auction clearance rate of 55.7 per cent, down from the 66.7 per cent recorded last weekend.
Brisbane meanwhile recorded a clearance rate of 47.8 per cent, up from the 34.3 per cent posted last weekend.
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