0612 GMT - Australia's property market remains depressed thanks in part to higher interest rates and changes to tax arrangements for property investors, but there are some signs of life returning. The preliminary combined capitals auction clearance rate nudged up a little last week to 56.5%, its highest early success rate in 12 weeks, says property research group Cotality. This came despite falls in the two largest markets, where Sydney eased 1.4 percentage points and Melbourne 3.4 percentage points, it adds. The gains were concentrated in smaller markets, such as Adelaide, Brisbane and Canberra, Cotality says.
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