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flag Northcote home sells for $3.5 million at auction amid low Melbourne clearance rates.

flag A Northcote Federation home passed in at auction at the original purchase price of $3.5 million despite a guide of $3.5 million to $3.8 million, leaving it unsold after two bidders hesitated. flag Meanwhile, a Mulgrave home sold for $951,000. flag Melbourne’s auction clearance rate was 56% as experts cite low stock, economic uncertainty, and rising interest rates as reasons for cautious behavior.

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