Home sales rise while prices dip slightly

Home auction volumes across the combined capital have fallen in the week to December 17 but the clearance rate has risen while prices have dipped in the main.

A real estate advertising board

The number of homes up for auction across the combined capital cities has fallen, along with prices. (AAP)

The number of homes taken to auction across the combined capital cities has fallen over the past week, along with housing prices.

Only 2,865 homes went under the hammer in the week to December 17, compared to 3,371 auctions in the previous week, preliminary figures from property data group Corelogic show.

Despite the slowdown in auction volumes, preliminary figures show that 64.2 per cent of ended in a sale.

That was up on the previous week's combined cities clearance rate, which - at 59.5 per cent - fell below 60 per cent for the first time this year, according to CoreLogic's revised data.

Melbourne and Sydney both saw a jump in preliminary clearance rates, with 67.3 per cent and 60.8 per cent, respectively, of auctioned homes finding a buyer.

The previous week, both cities had recorded their lowest clearance rate of the year.

Adelaide's clearance rate was 70.1 per cent for the seven days to December 17, while in Perth only 43.3 per cent of auctions ended with a sale.

Meanwhile, home prices across the five capital cities combined dipped 0.2 per cent in the week, dragged down by a fall in Sydney.

Values in Melbourne, Brisbane, Adelaide and Perth remained steady.

On a monthly basis, Sydney fell one per cent, while Melbourne and Perth each lifted 0.3 per cent, and Adelaide and Brisbane rose 0.2 per cent and 0.1 per cent, respectively.


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Source: AAP



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