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"Sydney is the job destination for Australia and there is strong migration. This is why we are seeing low vacancy rates."
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Clearance rates down in Melbourne and Sydney.
Buyers are turning to new residential communities to get a foothold on the property ladder.
Five Australian cities in the top ten of JLL’s Investment Intensity Index in Asia Pacific, with Sydney leading.
Melbourne's median house price is now almost $730,000.
Australian property provides security and prestige, as well as access to homes and land that simply don’t exist in China.
"Current demand for property, auction clearance rates and market depth do not indicate a major market correction is on the horizon."
REIWA finds sales turnover was down by 14 per cent on the previous quarter, and there is a high number of listings offering buyers plenty of choice.
Sydney’s red hot auction scene has cooled lately and this could be telling.
"The inner city is still showing signs of supply slowly entering the market place."
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