Weekly property prices have ticked 0.6 per cent higher, on average, across most of Australia's capital cities, but auction clearance rates have moderated.
Property prices have ticked slightly higher across most of Australia's capital cities, although the auction clearance rate has stayed below 70 per cent.
Latest auction result figures from property information group CoreLogic show that the number of auctions rose in the week to June 18, compared to the previous week.
There were 2,407 auctions across the five major capital cities in the week, with a preliminary clearance rate of 69.6 per cent, compared to 1,279 auctions - based on final figures from a week earlier - and a clearance rate of 67.8 per cent.
This is the third straight week when the combined clearance rate has stayed below 70 per cent.
Clearance rates were mixed in the country's two largest auction markets, with Sydney improving to 72.4 per cent while Melbourne eased to 72.2 per cent, according to preliminary figures.
Home prices across Sydney, Melbourne, Brisbane, Adelaide and Perth were up by a collective 0.6 per cent for the week and 0.6 per cent for the month.
Sydney's average price movement has resumed its positive trend, lifting 0.9 per cent last week, after dipping 0.2 per cent the previous week and being flat the week before that.
Melbourne also lifted last week, by 0.7 per cent, while Brisbane and Adelaide both recorded just a 0.1 per cent increase, while Perth was flat.
