The decline in Sydney and Melbourne home prices paused last week, although only just.
After seven straight weekly declines, Sydney property prices remained flat in the week to May 4, while Melbourne prices inched 0.3 per cent higher - the first time they have done so for a month.
Sydney home prices have still appreciated by 3.6 per cent so far in 2017, and are up 11.4 per cent on the same time a year ago.
The picture is similar in Melbourne, with a year-to-date rise of 3.1 per cent leaving property prices 11.8 per cent higher.
Perth - the biggest faller over the past year - rose 1.1 per cent and Adelaide rose 0.8 per cent, but Brisbane declined 0.4 per cent, according to the latest data from CoreLogic.
The first week of winter featured 2,545 auctions, down from 2,885 the previous week, and a clearance rate of 73.9 per cent.
Share
