Market Watch: Auction clearance rates reveal regional differences

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Auction clearance rates showed regional differences on Saturday
The latest data from Saturday’s home auctions show wide differences between the markets. Last week there was a fairly broad increase in clearances reported by Australian Property Monitors, but for this past weekend there are very different stories to tell. Sydney continued to increase but only by 2 percentage points to 83 per cent; Melbourne’s rate was down to 75 per cent (from 76 per cent); Brisbane dropped to 33 per cent (from 47 per cent) ; while Adelaide surged to 86 per cent (from 66 per cent). The national clearance rate was 77 per cent, up from 76 per cent a week earlier.
Source: APM
 
Brisbane riverfront mansions back in fashion
Brisbane’s luxury riverfront property market has made a comeback after many years in decline according to a new report. The Johnston Dixon River Report 2015 shows that there were 43 absolute-riverfront houses sold last year, the highest number since the 2010 record. The Weekend Australian reports that it’s taken nearly four years for the market to recover following the floods of 2011 but that $147 million was spent last year with an average of $5m per home. The full report is due to be published next week.
Source: The Weekend Australian
 
Asia dominant region for world’s wealthy
Knight Frank’s annual wealth report shows the 40 cities that are considered the most important to some of the richest people in the world. The league table looks at the quality of life for those with net assets above U$30 million. London, New York and Hong Kong are the top three but Asia dominates the top 10 with Singapore, Shanghai and Beijing also featuring. Sydney is the only Australian city in the top 40. However, when it comes to actual numbers of wealthy individuals, Tokyo, Singapore and Hong Kong all rank highly with Sydney and Melbourne the top choices in Australia. Read the full list.
Source: Knight Frank
 
Real estate agents warned of dangers from email scams
The real estate industry was one of the three most-targeted sectors by email ‘phishing’ scams in January. The latest edition of the Symantec Intelligence Report reveals that phishing emails increased to 42 per day at the start of the year compared to 33 per day in December. Along with real estate, insurers and financial businesses were the top targets with 29 per cent of all phishing emails being sent to one of the three sectors. Names, addresses and government IDs, such as social security numbers, were most often stolen.
Source: Symantec

 
 

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