WITH THE HOLIDAYS LOOMING, BUYERS STAY CAUTIOUS DESPITE THE MARKET GLUT.
Melbourne is facing a glut of stock heading into the holidays and new year, as a large number of homes that fail to sell under the hammer remain on the market.
With about 40 per cent of all properties auctioned inNovember being passed in, more than 1100 unsold houses and units have flooded into the private sale market over the past three weeks.
But the number of private sale deals recorded over the same period has remained stable, which suggests the market is nowat risk of a significant supply backlog.
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