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Best weekend clearance rate in 2 years

By Belinda McGuire

Owners of real estate in Rowville who are considering selling may be interested to hear the weekend's (February 23-24) property sales produced some of the best clearance rates in years.

Real Estate Institute of Victoria (REIV) data found that the 73 per cent success rate was the best in two years, with the figure thumping the 57 per cent which was garnered from sales in the same weekend in 2012.

Of the 903 properties that went under the hammer, 657 were sold and 246 were passed in, with 145 doing so on a vendor bid.

REIV chief executive Enzo Raimondo has lauded the results, saying it is the sign of growing optimism.

"There can be no doubt the improving trend that started last year has continued this year and it reflects improved consumer confidence," he said.

The highest selling home was an East Melbourne property that went under the hammer for $5.15 million, while the most expensive unit was a $1.3 million Brighton apartment.

On the flip side, a Carlton unit was recorded as the cheapest purchase, selling for $185,000, while a $340,000 Tullamarine home was the least expensive detached property to be sold.

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