Buyers still cautious

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VICTORIA’S clearance rate was 57 per cent yesterday, with more than 660 properties up for auction. Data from the Real Estate Institute of Victoria shows Melbourne’s clearance rate has averaged 59 per cent this year. A healthy market averages 65-75 per cent. While the rate is trending down, the market is anything but uniform. Inner-eastern suburbs have averaged 68 per cent for the year, inner-southern suburbs 65 per cent and the inner-city 64 per cent.

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