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Hamptons home prices hit new high as buyers grab US$5m properties

Published Thu, Jan 28, 2016 · 09:50 PM
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New York

HOME prices in New York's Hamptons reached an all-time high in the fourth quarter, as buyers in the eastern Long Island resort towns made a record number of deals for at least US$5 million.

The average price for all Hamptons purchases that closed in the three months through December was US$2.38 million, up 16 per cent from a year earlier and the highest in records dating to 2005, brokerage Douglas Elliman Real Estate and appraiser Miller Samuel Inc said in a report on Thursday.

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