SYDNEY - [AAP] Australian capital city home prices were flat last week, with the slight decline in Sydney offset by equally small rises in Perth and Melbourne.

Brisbane and Adelaide home values did not move in the week to November 5 and have only risen 0.1 per cent over the past month, according to preliminary figures released by property data group CoreLogic on Monday.

Sydney's home values have continued their glacial descent, with the harbour city's home prices down by 0.1 per cent over the week and 0.5 per cent lower over the month.

Meanwhile, main rival Melbourne's prices rose by the same degree last week, and by 0.4 per cent over the month.

Property prices in Australia's largest cities appear to be in a holding pattern and following the expected trajectory of easing growth after the Australian Prudential Regulation Authority in April told lenders to limit higher risk interest-only loans to 30 per cent of new residential mortgages.

Still, property prices are up over the year, by 10.9 per cent in Melbourne, and 7.4 per cent in Sydney.

The national preliminary clearance rate--the proportion of home auctions resulting in a sale--last week lifted to 66.8 per cent from the previous week's final rate of 64.5 per cent but was down on the 73.6 per cent for the same time last year.

But, fewer homes went under the hammer, with just 2,019 up for auction compared to the year-to-date high of 3,713 the previous week.

Melbourne is still the top achiever with a 77.3 per cent clearance rate while Perth is bottom of the pile, with just 30 per cent of homes actually selling at auction, the same percentage as the same time last year.

Sydney's preliminary auction clearance rate was up, at 67.4 per cent, while its revised rate for the previous week--58.3 per cent--was its lowest in 23 months, CoreLogic said.

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