Still consumed by election fever, Australian Property Monitors reported 133 sales out of 194 auctions, delivering a clearance rate of 63%; down from 71% the prior week.
Place opens were well attended this week with over 80 interested groups inspecting 3 Howard Place, Randwick.  A deceased estate this 4 bedroom semi is being offered to the market for the first time in 57 years.  ‘Hastings’ will be submitted to public auction on-site on Saturday, 28 August 2010.
During the week, national media has been consumed with reports that city home prices fell for the first time in 18 months in June, as auction clearance rates dipped and higher interest rates cooled the market.
Median national home prices fell by 0.8 per cent in June, in raw terms, from a 0.6 per cent increase in May, according to RP Data-Rismark figures.
”As mortgage rates have normalised, participants in the housing market have cut their house price growth expectations, which explains the current change in conditions,” Rismark International managing director Christopher Joye said in a statement.
Tagged: Australian Property Monitors, Median prices, RP Data
