The Australian Financial Review --- Page: 4 : 16 April 2007 Original article by Mark Phillips
ABIX Summary
Recent Australian property statistics show auction clearance rates in four capital cities for the March 2007 quarter were the best in four years. Melbourne's and Adelaide's clearances were 71%, Sydney had 60% and Brisbane 50%. Perth's clearance rate was 26% lower than last year at 40%. Real estate analysts have picked Melbourne and Adelaide as the healthiest markets for 2007 and have forecast an interest rate rise due to a strengthening Sydney property market. The increased interest in property is seen as resulting from improving rental yields.
