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AAP
AAP
Jacob Shteyman

Sellers flee auctions as housing downturn deepens

A large percentage of properties listed for auction in capitals are being changed to private treaty. (Dan Himbrechts/AAP PHOTOS)

Sellers are being scared away from listing their homes for auction as buyers gain the upper hand in Australia's falling housing market.

More than three in five properties initially listed for auction across the capital cities ended up being converted to a private treaty in July, real estate listings platform Domain found.

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