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Slump in wealthier areas

06 Sep, 2008 12:00 AM

WEAKENING residential sale prices have emerged in Sydney's inner and middle ring suburbs during the subdued winter.

The price falls - smaller and fewer than in the outer mortgage belt suburbs - represent a new trend in the more affluent housing markets where prices had been strengthening until earlier this year.

There have also been lower prices in wealthier outer-ring suburbs.

But units sold better than houses during winter auctions. Unit vendors found buyers for 54 per cent of their 1200 unit listings. But just 46 per cent of the 3200 house listings that went to auction over the past three months were sold.

Jonathan Chancellor

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