The number of homes going under the hammer across the nation has bounced back from a two-year low, while housing prices have hardly moved.
More than 3,350 auctions were held across the combined capital cities in the week to December 10, returning a national auction clearance rate of 63.1 per cent, preliminary figures from property data group Corelogic show.
That compares to the previous week’s 60.3 per cent, which was the lowest since late 2015.
Corelogic said the recent string of low clearance rates was due to continued softening of conditions across Australia’s two largest markets – Melbourne and Sydney.
Melbourne’s clearance rates have tracked below 70 per cent for five straight weeks, while Sydney’s have trended around the mid to high 50 per cent level over seven consecutive weeks.
Canberra recorded the highest preliminary clearance rate in the past week, with 66.7 per cent of homes selling, while Brisbane returned the lowest with only 46.6 per cent of auctions successful.
Meanwhile, home prices across the five capital cities slipped slightly in the week – down a modest 0.1 per cent.
House values dropped in both Sydney and Melbourne, down 0.2 per cent and 0.1 per cent, respectively, but rose 0.1 per cent in Brisbane, Adelaide and Perth.
On a monthly basis, Sydney prices slipped 0.7 per cent, while Melbourne values rose 0.4 per cent, Perth gained 0.5 per cent, Adelaide improved 0.2 per cent and Brisbane was flat.