AS FEWER PROPERTIES ARE PUT UP FOR AUCTION, MORE ARE BEING SOLD PRIVATELY.
Melbourne’s auction market has entered its traditional winter slowdown, but it looks likely that the change in conditions won’t bring much relief to increasingly beleaguered home owners.
The number of properties being put up for auction has finally fallen below last year’s levels, although demand is still proving far too weak to match even this supply.
About 2400 homes are expected to be auctioned this month, a figure about 19 per cent below last year’s and the sixth lowest stock level in the past nine years, according to the Real Estate Institute of Victoria.
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