Buyers Drive The Auction

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VENDORS BRACE THEMSELVES FOR HARDER TIMES AS SURGING STOCK LEVELS CONTINUE TO TURN THE TIDE AGAINST THEM.

Buyers are being swamped with choice as a record number of properties go to auction in the lead-up to the Christmas holidays. And, if the market’s performance over the past fewweeks is any indication, vendors are in for a rough time.

The clearance rate was 60 per cent for the 834 auctions reported to the Real Estate Institute of Victoria yesterday.

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