Market Report 27th June 2010

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BUYERS SELECTIVE AS STOCK SHRINKS STOCK eased from last week’s mega weekend, with the clearance rate dropping slightly to 65 per cent.

Buyers were selective as agents reported mixed results in crowd sizes and bidding competition. Alistair Craig, of Jellis Craig, said the market had cooled slightly, but it was not a symptom of a bubble burst. “It is now more normal market — it is a bit more of a level playing field for buyers and sellers,” he said. Robert Larocca, of the REIV, said this week closed one of the strongest Junes on record, with the market absorbing the large number of listings.

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