Auction clearance rates fell to their lowest levels since early July, ending the year on a weaker footing, data from CoreLogic shows.
by 1.5 per cent in the four weeks ended December 18, while Melbourne values were down by 1.3 per cent. Over the previous four weeks, prices fell by a smaller 1.1 per cent in Sydney and by 0.4 per cent in Melbourne.
In Melbourne, a three-bedroom house at 21 Molden Street, Bentleigh East, was sold under the hammer for $1.606 million, which was $306,000 over reserve, after attracting fierce bidding from six buyers. “We’re still seeing homes being purchased and there are no signs so far of a build-up or the accumulation of stale stock on the market. Listings are still being absorbed, which is a really good reminder that the floor hasn’t fallen out of demand,” said Mr Lawless of CoreLogic.
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