This week’s ANZ Property Market Update discusses what’s happening in our auction markets and includes some interesting graphs and stats.
Here’s what they had to say:
- Following a strong finish to 2013, auction clearance rates have remained elevated in seasonally adjusted terms in the first few weeks of 2014.
- At the national level, home price momentum remains solid; however short-term price changes remain divergent across capital cities. In the past week Sydney home prices posted the strongest gains (to be +1.0% m/m in seasonally adjusted terms) followed by Brisbane (to be +0.8% m/m s.a.) and Adelaide (to be -0.2% m/m s.a.). In contrast, prices were lower in the past week in seasonally adjusted terms in Melbourne and Perth.
As highlighted in the February RBA Statement of Monetary Policy, the increase in home prices over the past year or so has been “broadly consistent with the historical relationship between interest rates and prices”, suggesting the RBA is comfortable with the recent growth in home prices. Looking ahead, we expect accommodative monetary policy will continue to support housing market momentum and further price gains in 2014.
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.