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On Monday the rpdata.com-Rismark National Home Value Index is released and the results should be very interesting. Last month we reported that during September 2009 home values had increased by just 0.1%, the slowest rate of monthly growth during 2009. During the month negative growth figures were recorded in Brisbane, Adelaide and Perth. Interestingly, if you look over the last seven years these have been the three best performing capital city markets nationally. With value growth slowing in September, prior to the initial wind back of the First Home Buyers Grant Boost and the two successive interest rate rises it will be interesting to see if this has a dampening effect on value growth for October. We have already seen a fall this month in the Westpac-Melbourne Institute’s Consumer Confidence Index, with many attributing the fall to the successive interest rate rises which led to the 2.5% drop in the index during November.

Weekly Key Statistic - National Auction volumes

Last week’s dip in clearance rates happened to coincide with the nation’s busiest week of the year for auctions. During the week there was a total of 1,846 auctions.

Latest National Auction Clearance Rates
Last week saw auction clearance rates take a fall right across the country. Clearance rates in Sydney fell to 65.7% which was the lowest recorded clearance rate since late May this year. Melbourne auction clearance rates also fell slightly to 76.9%. Clearance rates fell by around 10% in Brisbane and 15% in Perth whilst Adelaide was the only city to record an improvement on last week’s numbers. Nationally, the weighted average clearance rate was recorded at 68.7%.

Want to know the auction results for your local area? Login to rpdata.com and go the Auction Results panel on the top right corner of the home page.

Advertised Stock On The Market
New listings to the market increased for the second successive week and remain slightly above 50,000, total listings also nudged slightly higher. The number of listings remains extremely resilient, yet to start falling in the lead up to Christmas. If trends are consistent with those witnessed during the last two years, next week should signal the beginning of the Christmas/New Year slowdown.

RP Data Property Pulse

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