This week`s auction-according to Domain, Sydney has 385 homes at auction this week, with a vacancy rate of 60%; Melbourne has 642 units at 58%; Canberra has 26 units at auction, with a clearance rate of 61%; Brisbane had 76 sets, with a clearance rate of 42%, while Adelaide had 48 sets, with a clearance rate of 74%.
Last week`s auction-Sydney had 462 homes at auction last week, with a emptying rate of 51.9%, and Melbourne had 629 units at 57.0%, according to CoreLogic. Canberra has 46 home auctions, with a emptying rate of 62.8 percent; Brisbane`s 115, with a vacancy rate of 36.1 percent; and Adelaide, with 57, with a clearance rate of 67.3 percent.
Home prices fell 0.06 percent in Australia`s five capital cities this week, 0.18 percent in Melbourne and 0.02 percent in Sydney.
Home prices fell 2.47 percent in 2018, about 3.26 percent in Sydney, followed by Melbourne, down 2.92 percent.
Sydney has fallen 5.47 percent over the past 12 months; Brisbane is up 1.26 percent; Adelaide is up 0.74 percent; and prices across Australia are down 2.75 percent.
The following chart shows the index of house prices in Australia over the past seven years.
Prices in Sydney and Melbourne rose by 59.1 percent as of August 9, 2018, while those in Melbourne rose 40.9 percent. Driving the average price of Australia`s five capital cities up 35.3%.
In May 2012, home price increases in Australia`s five capital cities were similar, while Sydney and Melbourne were also at lower levels. From that low to August 9, 2018, house prices rose 65.2 percent in Sydney, 53.9 percent in Melbourne, and 45.0 percent in five capital cities on average.
Home prices in Sydney fell 5.54% in the past year, Perth, capital of Western Australia, fell 2.15%, and prices in Melbourne fell 1.02%, according to CoreLogic RP Data figures. The rest of the cities recorded growth, with Brisbane (including the Gold Coast) up 1.24 percent, Adelaide up 0.72 percent, and Australia`s five capital cities negative growth of-2.83 percent.
