BUYERS CONTINUE TO HOLD ALL THE CARDS IN THIS TENTATIVE MARKET.
As starts to the auction market go, 2011 is shaping up to be one of the toughest. It has been just one month since activity started for the new year, the clearance rate is one of the lowest on record and there’s no shortage of stock available.
The metropolitan clearance rate has averaged only 61 per cent for the year to date, the second-worst showing in the eight years the Real Estate Institute of Victoria has been tracking the market. And while stock levels have been strong, they are by no means unprecedented.
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