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Sydney property market summary 

9 March 2017

Sydney’s auction clearance rates remained at over 80% for the fourth week running, and nearly 12% higher than last year, according to CoreLogic’s market indicator summary report.

The report revealed that 886 auctions were held in Sydney over the first week in March, with an 80.5% clearance rate, compared to 708 auctions and a 68.7% clearance last year.

The highest clearance rate in Sydney’s sub-regions was the city and inner south with 88.5%, compared to the lowest of 66% in the south west.

The highest number of auctions were held in North Sydney and Hornsby with 140, compared to the lowest in outer west and Blue Mountains which had four.

Capital city home value changes

Sydney’s home values have grown 18.7% in the last 12 months, 4.2% in the year to date and 2.9% in the last month. The next capital with the largest growth in the last 12 months is Melbourne with an increase of 13.5%, followed by Brisbane with 3.6%.

Capital city properties listed for sale

Sydney has had 8,161 new listings in the last 28 days up to 5 March, an increase of 8.5% in the last 12 months. The total number of properties listed for sale is 20,917, which is 2.1% down compared to the last 12 months.

* new listings are classed as not being advertised for sale over the past six months, whereas total listings include new listings and properties which have been previously advertised.

Capital city private treaty median prices

The median price of houses sold in Sydney over the most recent four-week period up to 5 March, is $890,000. The median price of units is $730,000.

* private treaty sales represent around 85% of all dwelling sales across the country. Records without a valid sale price have been excluded from the analysis.

Capital city median time on market 

The average time on market (TOM) in Sydney for houses is 27 days and the average TOM for units is 25 days.

* the statistics are calculated across results received by CoreLogic over the past week up to 5 March, and include properties transacted over the past four-weeks. The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.