Auction this week
According to Domain, 635 units were auctioned in Sydney this week, with a clearance rate of 62%; Melbourne had 950 units, with a clearance rate of 62%; and Canberra had 75 units, with a clearance rate of 71%. Brisbane 72 sets, a clearance rate of 39%; Adelaide 69 sets, a clearance rate of 62%.
Last week`s auction
Sydney had 829 homes at auction last week, accounting for 55.8%, Melbourne had 1334, with 63.9%, and Canberra had 92, with a emptying rate of 66.7%, according to CoreLogic. Brisbane had 142 units, with a emptying rate of 54.2 percent, while Adelaide had 133 sets, with a vacancy rate of 60.2 percent.
Latest house price changes in Australia
This week, home prices in Australia`s five capital cities fell 0.08%. Perth was the only rising city, up 0.16 percent; Sydney was down 0.09 percent, and Melbourne was down 0.17 percent.
Home prices in Australia`s capital cities fell 1.25% in 2018, according to CoreLogic. Sydney fell the most, to 2.09 percent, while Melbourne fell 0.90 percent. Of the five capital cities, only Brisbane is 0.33%.
Melbourne has risen 3.68 percent over the past 12 months, still the largest of the five capital cities, but the five capital cities as a whole have fallen 0.47 percent.
The following chart shows the index of house prices in Australia over the past seven years.
Prices in Sydney and Melbourne, which rose 61.0 percent in the year to May 3, 2018 and 43.8 percent in Melbourne, have risen since their peak in 2010. The average price of Australia`s five capital cities rose 36.9%.
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 May 3, 2018, house prices rose 67.2 percent in Sydney, 57.1 percent in Melbourne, and 46.7 percent in five capital cities on average.
up-to-date
Home prices in Sydney fell 3.50% in the past year, and Perth, the capital of Western Australia, fell 2.27%, according to CoreLogic RP Data figures. In the rest of the cities, home prices rose 3.65 percent in Melbourne, 1.09 percent in Brisbane (including Gold Coast), 0.79 percent in Adelaide, and 0.49 percent in Australia`s top five capital cities.
