Total sales steady, but clearance rate tumbles

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RAIN, hail, strong winds and even snow – the cold spring weather seems to be reflecting a generally cooler market.

From the 637 auctions reported on the weekend, the clearance rate was 68 per cent.

Twelve months ago, there were 626 auctions with a clearance of 80 per cent.

The most recent Real Estate Institute of Victoria figures show a rise of only 0.9 per cent in the median metropolitan house price, in the three months to September. – Click here for the rest of the article (The Age Website)

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