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:
Home prices continued to increase in the past week, and have now accounted for the May-June post-Budget price losses, to be at new record levels.
- Home prices in Sydney, Melbourne and Brisbane in particular have posted solid gains in recent weeks, while Adelaide and Perth home prices have been more tentative.
In trend terms, Melbourne home prices posted the strongest growth in the past week, followed by Sydney, Brisbane and Perth.
In contrast, Adelaide home prices continued to trend lower in the past week, and have been easing lower since early May.
- Auction sales in the past week continued to reflect buoyant home buyer and vendor sentiment. The number of auction sales continued to remain elevated for this time of the year, despite easing slightly over the past week.
Auction clearance rates also remained solid in the past week, with the weighted average capital city clearance rate above 70% for the first time in 18 weeks despite the seasonal slowing in housing market sales during the winter months.
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