Comparing current capital city values with previous peaks adds some perspective to the current housing market upswing – particularly in Perth and Darwin, where values remain substantially below their record highs from 2014. It also highlights the very different dynamics across capital cities – such as in the...

Auction volumes rose across the combined capital cities this week with 2,170 homes taken to auction, increasing on the 845 auctions held over the Easter week.

CoreLogic’s Quarterly Auction Market Review released today revealed Australia’s combined capital cities clearance rate reached 80.0% over the first quarter of 2021, up from 69.4% in the December 2020 quarter and 62.5% in the March quarter of 2020.

This week, the number of capital city homes scheduled to go to auction is set to rise with 2,207 auctions currently being tracked by CoreLogic.

With the cash rate likely to remain on hold for an extended period of time, attention is more focussed on other elements of the RBA’s monetary policy settings and their perspective on the economy, including housing market conditions.