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Auctions rise but Sydney home prices slip

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November 13, 2017

Home prices have again fallen in Sydney and remained flat in Melbourne as the property market cools

Sydney home prices have again fallen while Melbourne's have remained flat, but the national auction clearance rate last week was better than the previous week's.

Property data group Corelogic's weekly property survey shows that the national auction clearance rate rose to 66.5 per cent, up from the adjusted 61.5 per cent in the prior week when the final figure was the lowest since early 2016, but well below the same time last year.

While Sydney and Perth home values fell 0.2 per cent over the week to November 12, Canberra recorded the highest preliminary clearance rate, at 72.9 per cent and Brisbane recorded the lowest, with just 45.7 per cent of auctions resulting in a sale.

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