Friday, March 28, 2008

International: Divorce Drives Up Real Estate Sales in Australia

DIVORCE will drive real estate sales - regardless of interest rate rises.
Break-ups among married and de facto couples account for up to 15 per cent of all residential sales, L.J. Hooker WA manager Luke Walker said.
A Sydney agent recently claimed the figure was closer to 40 per cent, with every second client selling because of divorce.
Professionals WA Real Estate chief executive officer David Hobbs said that while he thought this figure was overstated, he agreed divorce triggered a big percentage of sales.
"Two properties in my street are being sold due to divorce. It is fairly prevalent at this stage,'' he said...

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