Owner-occupiers can’t sit on their hands any longer

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OWNER-occupiers could be on the increase in Melbourne’s residential market after two years of playing a waiting game.

The Real Estate Institute of Victoria put the clearance rate for last weekend at 60 per cent for the 685 properties it surveyed. There were also 584 reported private sales.

Ian James of JPP Buyer Advocates says four out of five auctions the company went to last week passed in, but only one failed to sell afterwards. James says interest is switching from investors to
owner-occupiers, with owner-occupiers outstripping investors in inquiries in the past fortnight at a ratio of two to one.

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