Winter doldrums

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A 59-PER-CENT CLEARANCE RATE SHOWS BUYERS ARE STILL NOT CONFIDENT OF THE MARKET.

Far from being encouraged by comments from Westpac Bank this week that interest rates could fall, many prospective buyers kept their hands in their pockets yesterday, continuing to show their preparedness to walk away from auctions.

Just 59 per cent of the 421 auctions reported to the Real Estate Institute of Victoria sold. The outcome of another 63 scheduled auctions was not reported.

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