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Home sales rise but market remains soft

Home sales across Australia's capital cities have risen slightly in the past week, but the market remains soft with prices steady.

The national auction clearance rate rose to 69.4 per cent in the week to October 22, from a revised 67 per cent in the previous week, marking the 21st consecutive week where the clearance rate has held below the 70 per cent mark, preliminary figures from property data group CoreLogic show.

Homes prices remained flat across the combined five capital cities, but fell 0.1 per cent on a weekly basis in both Sydney and Perth but rose 0.1 per cent in Melbourne.

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