This week's Australian Property Market Update – Latest Data, State by State April 11th, 2022
2022-04-15
Our property markets continue to deliver mixed results.
Prices continue to flat-line in our two largest cities again this week, continuing the trend that’s been evident since the market opened after the Christmas-New Year holidays, while Adelaide, Brisbane and Perth prices notched up further gains.
We’re in a tow speed market with ample properties available for sale in Sydney and Melbourne, and only half pre-pandemic levels of stock available outside capital cities
It was another big weekend for auctions, with Sydney scheduling 1,105 auctions and Melbourne a solid 1,476.
Though less than last week’s numbers, Sydney volumes were up 21.4% on their average so far this year, Melbourne auction schedule for this week was 12.6% higher than average.
According to Corelogic Sydney had a preliminary clearance rate of 68.2% while Melbourne’s clearance rate was marginally higher at 69.1%.
Auction sales volumes in the other larger capital cities continued apace, Brisbane clearing 71.4% and Adelaide 86.1%. Auctions are a less common form of sale in Perth.
Here’s what’s happening to property prices…
Prices continue to flat-line in our two largest cities again this week, continuing the trend that’s been evident since the market opened after the Christmas-New Year holidays, while Adelaide, Brisbane and Perth prices notched up further gains.
We’re in a tow speed market with ample properties available for sale in Sydney and Melbourne, and only half pre-pandemic levels of stock available outside capital cities
It was another big weekend for auctions, with Sydney scheduling 1,105 auctions and Melbourne a solid 1,476.
Though less than last week’s numbers, Sydney volumes were up 21.4% on their average so far this year, Melbourne auction schedule for this week was 12.6% higher than average.
According to Corelogic Sydney had a preliminary clearance rate of 68.2% while Melbourne’s clearance rate was marginally higher at 69.1%.
Auction sales volumes in the other larger capital cities continued apace, Brisbane clearing 71.4% and Adelaide 86.1%. Auctions are a less common form of sale in Perth.
Here’s what’s happening to property prices…
- Sydney property prices remained flat in the last week, also flat as April starts, and up 17.7% over the last 12 months.
- Melbourne property prices remained flat in the last week, also flat April starts, and up 9.8% over the last 12 months.
- Brisbane property prices increased 0.5% over the last week, increased 0.2% as April starts, and up 30.1% over the last year.
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