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Canberra tops property sales

04 February 2016 by News Desk

More homes were sold in Canberra last week than in any other city in Australia.

Almost 78% of homes listed for sale by auction in Canberra were purchased in the last week of January, making it the nations’ current popular property hotspot. More properties were listed for sale in other cities but, in percentage terms, fewer were sold at auction.

The number of properties listed for sale by auction in Adelaide increased by 33.4% last week, while properties listed in Brisbane increased by 26.9%.

Melbourne saw the number of homes offered for sale by auction increase by 23.8% while Sydney has seen a 5.1% fall in the number of homes offered for sale by auction compared to the same period last year.

Around 7,000 properties were listed for sale in Melbourne last week while Sydney offered just over 5,000 new homes for sale, the fall in sales in Sydney caused by an over-supply of properties – mostly new apartments, according to CoreLogic RP Data.

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