Supply surges as demand weakens

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Housing stock is now plentiful – and much more affordable.

There have been bigger auction days this year but none has been as closely watched as yesterday.

A staggering 885 properties were up for sale, the highest stock level ever recorded for a winter weekend.

With the wealth of choice for buyers, the clearance rate, unsurprisingly, took a hit. The Real Estate Institute of Victoria reports that 67 per cent of properties sold.

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