What’s your home worth?

Melissa Jenkins
(Australian Associated Press)

 

The auction market has recovered from its post-Christmas dip but housing finance has softened and home values continue to fall in Sydney.

Housing finance for owner occupiers fell one per cent in December, according to seasonally adjusted figures from the Australian Bureau of Statistics.

The value of commercial loans, including mortgages to investors, dropped 6.1 per cent to $42.8 billion.

Home prices in all of the major capitals except Sydney were unchanged last week but the harbour city’s 0.2 per cent fall dragged the average down 0.1 per cent.

Sydney prices have now increased by just 0.7 per cent over the past year, while home values in Melbourne rose 7.7 per cent over the same period.

Auction volumes have recovered from the post-festive lull, with 1,464 homes going under the hammer across the five capital cities last week, up from 790 in the previous week.

Clearance rates remain well down on the same time last year.

The national auction clearance rate rose to 67.7 per cent in the week to February 11, stronger than the prior week but weaker than the 73.2 per cent recorded at the same time last year.

 

CAPITAL CITY PRIVATE TREATY MEDIAN PRICES

HOUSES

Sydney – $811,500

Melbourne – $680,000

Canberra – $640,000

Brisbane – $525,000

Perth – $510,000

Darwin – $490,000

Adelaide – $451,000

Hobart – $440,000

Combined capitals – $616,750


UNITS

Sydney – $670,000

Melbourne – $501,500

Canberra – $417,500

Brisbane – $385,500

Perth – $367,500

Hobart – $322,000

Darwin – $315,000

Adelaide – $311,500

Combined capitals – $515,843

Source: CoreLogic Property Market Indicator Summary week ending February 11, 2018.

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