Auction this week
According to Domain, 577 units were auctioned in Sydney this week, with a clearance rate of 56%; Melbourne had 958 units at 61%; Canberra had 55 units at auction, with a clearance rate of 76%; Brisbane had 122 units, with a clearance rate of 55 percent, while Adelaide had 72 sets, with a vacancy rate of 60 percent.
Last week`s auction
According to CoreLogic, 797 units were auctioned in Sydney last week, with a clearance rate of 63.1%; Melbourne had 1144 units, with a clearance rate of 63.7%; and Canberra had 102 units at auction, with a clearance rate of 73.9%. Brisbane had 127 units, with a vacancy rate of 47.3 percent, while Adelaide had 97, with a clearance rate of 59.1 percent.
Latest house price changes in Australia
Home prices in Australia`s five capital cities fell 0.01% this week. Adelaide gained the most, to 0.18 percent; Sydney was down 0.06 percent, and Melbourne was down 0.01 percent.
Home prices in Australia`s capital cities fell 1.26% in 2018, according to CoreLogic. Sydney fell the most, to 2.15 percent, while Melbourne fell 0.92 percent. Of the five capital cities, only Brisbane is 0.36%.
Melbourne`s 3.46 percent gain over the past 12 months has remained the largest of the five capital cities, but the five capital cities as a whole fell 0.62 percent.
The following chart shows the index of house prices in Australia over the past seven years.
Prices in Sydney and Melbourne rose by 60.9 percent as of May 10, 2018, while those in Melbourne rose 43.8 percent. 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 10, 2018, house prices rose 67.1 percent in Sydney, 57.0 percent in Melbourne, and 46.7 percent in five capital cities on average.
up-to-date
Home prices in Sydney fell 3.65% in the past year and Perth, the capital of Western Australia, fell 2.20%, according to CoreLogic RP Data figures. In the rest of the cities, home prices rose 3.43 percent in Melbourne, 1.08 percent in Brisbane (including Gold Coast), 0.69 percent in Adelaide and 0.64 percent in Australia`s top five capital cities.
