Record-setting property passes in
This river-front property that toppled price records in 2003 failed to sell at auction today.
PT1M49S http://ift.tt/1rs071L 620 349 September 6, 2014
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Melbourne's strong property market has continued to boom on the first full weekend of spring sales, with clearance rates nearing 80 per cent across the city.
Almost $800 million of residential property has changed hands over the past two weekends, despite Melbourne property prices reaching record levels over the winter.
The Real Estate Institute of Victoria (REIV) expects a record 2100 auctions in Melbourne over the next two weekends before the AFL grand final, smashing last year's mark of 1800 auctions.
The city's home values have risen almost 12 per cent over the past year, with the median price now sitting at $570,000 according to RP Data.
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