Auctions on the increase, but not clearances

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DESPITE weaker conditions, Melbourne’s property market continues to offer an increase of stock being auctioned.

Last week’s clearance rate has been downgraded to 53 per cent, which is the lowest since November 2008.

This is well below the 61 per cent average so far this year and, with more stock to hit the market in the coming weeks, vendors may face tougher times.

Click here for the rest of the article (Source: Pressdisplay Website)

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