Australian Property Market Update – ANZ Bank – 17th March 2014

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:

  • Australian Property Market Update - ANZ Bank - 17th March 2014Auction sales rebounded strongly in the past week, following last week’s holiday-affected weak sales activity (due to the Labour Day long weekend in Melbourne).
  • Auction clearance rate remained elevated in most capital cities in the past week with Sydney posting a seasonally adjusted clearance rate of 80% or higher for the sixth straight week. In contrast, auction clearance rates have eased in trend terms in Melbourne and Perth in recent weeks (although remain historically elevated).
  • Despite home price gains moderating in the past week, home prices hit a new historical high, reflecting strong home buyer and developer demand relative to listed stock. In seasonally adjusted terms, Melbourne, Brisbane and Adelaide posted the strongest price gains. Sydney home prices also increased in the week, while Perth prices were unchanged.

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