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REA Group property economist Anne Flaherty says a more “balanced” property market is starting to emerge.

“Last week was a very popular weekend to sell property, and we did see an enormous amount of properties come up for sale, and we also saw clearance rates a little lower than we saw them at the same time last year,” she told Sky News Business Editor Ross Greenwood.

Ms Flaherty said part of the reason for this is the increase in supply of properties for sale.

“The fact that many people are anticipating that interest rates could rise this year is also probably factoring into that price growth.”

In partnership with realestate.com.au.

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