PHOTO: There was just one bidder on a substantial terrace house at 46 Howe Crescent, South Melbourne.
Properties appealing to varied buyer groups triggered the hottest bidding duels at Melbourne’s weekend auctions.
But there were also dozens of stand-offs between buyers and sellers, with some vendors forced to lower their expectations and take a “haircut” on the selling price.
Real estate agents reported continuing buyer caution and a trend to one-bidder auctions as well as to buyers trying to push prices down in post-auction talks.
In many suburbs, selling at auction is a 50-50 proposition. Melbourne’s weekend auction clearance rate slipped to 52.7 per cent from 617 reported auctions (887 auctions were scheduled), according to Domain Group data.
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