Market Cools at the top end

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Whether it’s the impact of interest rate rises, high stock levels or a last-minute rush for Mother’s Day presents, Melbourne’s property market cooled slightly over the weekend.

Easter aside, this weekend’s auctions produced the year’s lowest clearance rate so far of 78 per cent.

There were 841 auctions reported; higher than last week’s 812, which produced a clearance rate of 80 per cent.

But according to agents, such as Noel Jones group chairman Adrian Jones, it’s a small blip in an otherwise healthy market.

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