Home Buyer Sentiment Positive, Price Gains Stabilising

This week’s ANZ Property Market Update discusses what’s happening in our housing markets and includes some interesting graphs and stats.

Here’s what they had to say:

Housing market sales continued to reflect positive housing market sentiment in the past week, particularly in Sydney where elevated auction levels for this time of year have cleared at greater than 75% for the fifth consecutive week.

Home prices edged higher in the past week, with price growth easing to 11.2% in annualised trend terms. Trend price growth remained strongest in Melbourne (+1.7% m/m), followed by more moderate gains in Sydney (0.8% m/m) and Brisbane (0.1% m/m). In contrast, home prices continued to ease moderately lower in Adelaide and Perth.

Auction sales continued to reflect buoyant home buyer and vendor sentiment, with the number of cleared capital city auctions remaining elevated for this time of year.

Reflecting the rebound in consumer confidence in recent weeks, elevated auction clearance rates in Sydney and Melbourne in particular foreshadow strong sales demand and further housing price gains in the remaining months of 2014.

About Michael Yardney

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