That no one has mentioned the 55% clearance rate declared by the REIV for Melbourne today, great news for us renters...
Went to an auction today,about 3kms from a place we bid on 2 months ago, that place went for $555k, this was the same suburb, 3 bed rather than 2 bed, sub divide as well with street frontage but this one didn't have a lock up garage, other was a SLUG. Anyway, VB at $520k, no bids went to talk to vendor, reappeared and still no bids, pAssed in. There were 4 bidders on the place we bid on, I was shocked. Maybe the market has fallen even mire than I thought!