The listing of the Webb family’s prized Toorak mansion is one of more than 30 luxury listings that have hit Melbourne’s top-end market heading into Christmas.
The national clearance rate fell below 60 per cent for the first time since late August as caution creeps back into the market after official figures show inflation has jumped.
Property prices are falling and buyers are nervous about paying too much, but more sellers are able to reach a deal at auction this spring than during the winter.
The national clearance rate is at its highest since May even as the number of auctions rise for the spring selling season as more buyers look for opportunities.