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What happened to the markets in April 2012

By Jessica Ridder

The Blackheath property market appears to be as resilient as ever with high inspection rates over the Easter long weekend. The National media backed the area with several property Editorials and suburb profiles drumming up interest in Blackheath as a weekend destination and holiday getaway for Sydneysiders.

The interest appears to have carried over into high property prices with Ray White Blackheath selling 23 Mt Piddington Rd, Mt Victoria, a 2 bed weekender, for a price record of $530,000 (Source APM – 2011/2012) at Auction on Sunday 1st April.

Meanwhile, the most recent data from researcher RP Data suggest Sydney prices are in fact on the rise. Dr Andrew Wilson concurs, saying the market is off to an encouraging start with a clear improvement in buyer activity from the end of last year.

 In terms of the auction market, the latest finalised data from RP Data puts Sydney’s clearance at rate at 46%, Melbourne 58%, Brisbane 32% and Adelaide 41%. Interesting stats when you consider Ray White Blackheath’s clearance rate for 2012 is 57%.

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