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Home sales pick up but down on a year ago

Simone Ziaziaris  |  18 Sep 2017Text size  Decrease  Increase  |  
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SYDNEY - [AAP] The past week has been the busiest for auctions since June but the clearance rate has fallen on a year ago and housing prices are flat.

Almost 2,500 auctions were held across the combined main capital cities in the week to September 17, up from 2,258 in the prior week, preliminary figures from property data group Corelogic show.

The national auction clearance rate reached 70.3 per cent, up from 66.9 per cent the week before, but Corelogic said this will likely revise lower over the next few days and is down compared to the same week last year when slightly fewer properties went under the hammer.

Over the corresponding week last year, 2,149 properties taken to auction with a clearance rate of 76.2 per cent.

Combined price growth across the five capital cities was flat compared to the previous week, with Melbourne, Brisbane, and Adelaide each up 0.1 per cent, while Sydney values fell 0.2 per cent.

Perth's market rebounded slightly following a slowdown a week earlier, with home values up 0.2 per cent for the week but down 0.4 per cent over the month--an improvement from a 0.6 per cent monthly decline recorded a week earlier.

Home values across all five capital cities were up just 0.2 per cent over the month, with Melbourne house sales performing the strongest, up 0.6 per cent and Sydney down 0.1 per cent.

 

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