"The last time auction clearance rate was lower was in July 2004"
That's scary because look how much property prices in Melbourne have dived since 2004 ...
No wait!! They've risen a lot since 2004 haven't they?
So if the auction clearance rates were lower in 2004 and nothing has happened since then except that prices have risen, then what is the problem?
victorian real estate slumps to four year low, page-2
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