Latest stats show another strong week in property

Let’s look at some of last week’s property market stats…

We’ve experienced another strong week in our real estate markets around Australia, even though we may be in for a little breather consider asking prices are falling according to SQM.

Firstly… this weekend’s auction clearance results remain high, much higher than last year…

auction results

Source: Australian Property Monitors

And you can see the results graphically here:

compartive auction results

 RP Data’s Home Price Index

RPData’s home price index confirms the strength of the market, showing with daily, quarterly and year on year prices higher in all reported capital cities

HousePriceINdex12.01.2013

Vendor Asking Prices

But according to SQM Research vendors asking prices are slipping a little in all our cities.

This may mean that the frenetic rise in property prices may slow for a while and catch their breath.

Of course this is not a bad thing. The current rate of price growth – up to $1,000 a week in some cities, is unsustainable.

SQMAskingPrices08.10.13

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About

Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's been once agin been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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