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, with sales demand remaining strong for this time of year and home prices consolidating the strong gains of recent weeks.
- Home prices continued to edge higher in the past week, with price growth stabilising at 12.5% in annualised trend terms.
Home prices increased solidly in Melbourne, to be up 1.9% m/m, followed by more moderate gains in Sydney (0.8% m/m) and Brisbane (0.3% m/m).
- 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.
- Despite easing slightly in the past week, auction clearance rates remain elevated, reflecting positive sales demand for listed properties.
Leading into the final month before the peak Spring selling season, strong clearance rates in Sydney and Melbourne in particular foreshadow strong sales demand and further housing price gains in the remaining months of 2014.
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