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:
- While auction sales eased in the past week, the coming weeks will provide a better read of housing market sentiment. Cleared auctions were lower in all capital cities in the past week.
In contrast, Sydney maintained an elevated auction clearance rate on a lower number of auctions in the week while Melbourne’s auction clearance rate eased below 65% for the first time in 11 weeks.
- Home prices continued to edge higher in the past week, with price growth increasing to 12.9% in monthly annualised trend terms.
Trend price growth remained strongest in Melbourne (+1.7% m/m), followed by more moderate gains in Sydney (1.1% m/m) and Adelaide (+0.4% m/m).
In contrast, home prices remained broadly unchanged in Brisbane and Perth.
- Reflecting steady consumer confidence in recent weeks, elevated auction sales in Sydney and Melbourne in particular foreshadow strong sales demand and further housing price gains in the remaining months of 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.