Results good but not great

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CROWDS WERE UP YESTERDAY BUT DID LITTLE TO NUDGE THE CLEARANCE RATE CLOSER TO THAT OF A YEAR AGO.

Melbourne’s auction market appears to have held its ground, despite a big increase in the number of properties up for sale this week.

The Real Estate Institute of Victoria reports the clearance rate was 66 per cent for the 842 auction results reported so far. The outcome of another 144 sales — about 14.6 per cent of those scheduled — is still unknown and could cause the figure to drop.

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