Melbourne market wanes after boom

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HAS Melbourne hit the property brakes?

That’s the big question facing home owners after last week’s May figures from RP Data. Six months into 2011 and the worries for buyers and sellers could hardly be more different from a year ago. Back then, sellers had it relatively easy.

While the boom experienced earlier in 2010 was definitely unwinding, eager buyers were still bidding up prices and the full effects of the withdrawal of the first home buyer boost were yet to be felt.

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