Sydney, Melbourne, Brisbane and Adelaide have all recorded a lift in home values in the past week amid a rise in the number of homes sold at auction.
Perth was the only one out of the five major capital cities to record a dip in home prices (down 0.1 per cent) in the week to August 6, data from property statistics firm CoreLogic show.
Melbourne, again had the biggest rise in home prices – up 0.5 per cent – followed by Adelaide with a 0.4 per cent lift, while Sydney home values gained 0.2 per cent and Brisbane’s were up 0.1 per cent.
There were fewer auctions held across the five major capital cities during the first week of August but the combined cities’ auction clearance rate rose to 71.5 per cent from 68.7 per cent in the previous week.
Across the two larger auction markets, Melbourne continues to surpass Sydney with 75.7 per cent of auctioned homes actually selling.
But Sydney’s 71.1 per cent clearance rate was better than the previous week’s 65.4 per cent, its lowest so far this year.
On a monthly basis, Melbourne’s home prices are up 1.8 per cent and Sydney’s values are up 0.5 per cent.