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Home auctions rise, but well down on 2016

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.

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Auction clearance rate up as listings fall


Rising auction clearance rates and continuing strength in real estate prices indicate that home buyers are still keen to get into the market as listings dwindle.

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Housing market firms after election


With the federal election behind it, the housing market has shifted back into overdrive.

The number of auctions in the mainland state capitals jumped to 1,365 last week, according to housing market analytics firm CoreLogic.

That was up sharply from a below-par 841 the previous week, which included the day of the election.

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Housing clearance rates up


Neither a long-weekend nor chatter about the possible restriction of negative gearing could depress housing auction clearance rates last week.

Negative gearing has been in the news as an election issue, with the government ruling out any changes after the opposition flagged a move to disallow the tax break, albeit only for future purchases of established homes.

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Auction clearances lower than last year

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Housing auction clearance rates were lower last week than at the corresponding time last year, despite an improvement in most capitals last week.

The exceptions to last week's pickup were Sydney and Adelaide.

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Home auction clearance rates below 70pct


Many Australians have been too busy enjoying the long weekend to bother selling houses, while auction clearance rates have slipped below 70 per cent for the second week in a row.

A public holiday for half of Australia on Monday has pushed auction volumes significantly lower, the latest weekly reading on the housing market shows.

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Home auction clearances bounce back


Housing auction clearance rates bounced back strongly last week, but the overhang of supply in Sydney, Perth and Darwin continued to build.

The proportion of homes being sold after being put up for auction last week in the state and territory capitals was 71.0 per cent, compared with 67.3 per cent in the same week of last year, according to figures on Monday from CoreLogic RP Data.

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Falling clearances due to more auctions


Declining residential property auction clearance rates are the result of a surge in the number of auctions, rather than a fall in the number of sales, according to industry analysts CoreLogic RP Data.

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Low rates should mean more investment: PM


Low interest rates should be encouraging a greater amount of investment, Prime Minister Malcolm Turnbull believes.

The Reserve Bank on Tuesday is widely tipped to keep the cash rate at a record low of two per cent amid a slowing global economy and volatile financial markets.

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Government to sell off last of GFC debt


The last portion of the $15.5 billion of residential mortgage-backed securities the government was left holding after the global financial crisis could by sold off by mid-2016.

"The RMBS market is now functioning well and no longer needs government support," the Treasury said in the budget papers.

"Subject to market conditions, it is estimated that the portfolio could be sold down by the middle of 2016."

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