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Home prices and clearance rates hold firm

AAP logoAAP 5/12/2016 Garry Shilson-Josling, Economist

Housing auction clearance rates have held firm, bucking the normal seasonal pattern, with capital city prices unchanged last week and up 9.2 per cent from a year ago.

The average clearance rate - the proportion of auctions ending with a sale - rose to 75.0 per cent in the week ending Sunday, up from the previous week's clearance rate of 73.0 per cent, property market analytics firm CoreLogic said.

"This week's auction market results indicate that clearance rates are maintaining strength coming into summer, a trend that is very different compared with last year's performance when auction clearance rates were tracking in the high 50 per cent to low 60 per cent range."

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