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Market Update May 2016

By Mary Psathas

The property market in Mitcham and surrounding suburbs has leveled-off after three years of very strong growth and record prices.

Some suburbs and property types are up, some are steady and in other areas prices have started to decline.

Ray White Mitcham is proudly maintaining its 98% auction clearance rate, but across Melbourne, clearance rates are falling.

Interest rates are down, but lending criteria has tightened and there is an election coming up.

What does all this mean for you?

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