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Auction clearance numbers highest in three years

Australia’s major cities are continuing to record strong property results with auction clearance rates reaching their strongest percentage in three years.

Last weekends figures from Australian Property Monitors show a clearance rate of 78.1% in Sydney.

Out of 408 listed properties for sale in Sydney, 244 have been reported so far and of those, 200 properties have sold.

In Melbourne, the Real Estate Institute of Victoria reported a clearance rate of 71%. Out of 670 auctions listed, 475 sold and 195 were passed in.

Property investors and middle market buyers are believed to be driving the trend in Sydney, while owner-occupiers are the key buyers in Melbourne.

Recent figures from the Australian Bureau of Statistics have also revealed loans to property investors increased by 16 per cent in 2012.

Select the following link for a full article with further information on recent auction clearance results: http://www.smartcompany.com.au/property/055389-no-sign-of-property-slow-down-as-sydney-records-strongest-auctions-weekend-in-three-years.html

Bradley commenced employment with BMT in 1998, becoming a Director of the company in 2002, Managing Director in 2012 and Chief Executive Officer in 2015. As a result, he has substantial knowledge about property investment and specialist experience in tax depreciation and construction cost consulting. Bradley is actively involved in educating property investors and property related organisations about the importance of tax depreciation. He is a regular keynote speaker and presenter covering property depreciation services on television, radio, at conferences and exhibitions Australia-wide.

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