Auction this week
According to Domain, there were 530units at auction in Sydney this week, with a clearance rate of 55%; Melbourne with a clearance rate of 48%; and Canberra with 24 units at a clearance rate of 28%. Brisbane had 86 units, with a clearance rate of 43 percent, while Adelaide had 38 units, with a clearance rate of 46 percent.
Last week`s auction
Sydney had 587 homes at auction last week, with a clearance rate of 65%; Melbourne had 884 units at 53%; Canberra had 86 units at 38%; Brisbane had 78 units at 25%; Adelaide 64 sets, clearance rate of 37%.
Latest house price changes in Australia
Home prices in Australia`s five capital cities fell by an average of 0.19% this week. Melbourne fell 0.29%, leading the market.
Home prices in Australia`s five capital cities have fallen 3.23 percent in the quarter, and all five capital cities have fallen.
Overall house prices in Australia have fallen 8.2 percent over the past 12 months, with Sydney falling the most by 10.5 percent, followed by Melbourne by 9.5 percent. Of the five capital cities, only Adelaide rose 0.8%.
The following chart shows the index of house prices in Australia over the past seven years.
Home prices have fallen 9.3% throughout the cycle from the previous high to now.
up-to-date
Home prices in Sydney fell 10.41% in the past year, Melbourne 9.41%, and Perth, the capital of Western Australia, down 7.14%, according to CoreLogic RP Data figures. Brisbane (including the Gold Coast) fell 0.78 percent, Adelaide rose 0.78 percent, and Australia`s five capital cities grew negative, to-8.11 percent.
