MELBOURNE’S real estate market could be facing its own wintry chill, if clearance rates continue to cool and prices increasingly fall within range.
It is still too early to tell but if the trends continue, the property market could return to more stable conditions – a climate buyers will certainly warm to.
Out of 701 reported auctions last week, the clearance rate was 75 per cent, just below last weekend’s revised figure of 76 per cent.
Despite being the second lowest this year, it is still a healthy result, even more so considering the unseasonably high number of auctions held this month.
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