Sydney rebounds
There were very few auctions in locked down Melbourne this weekend, and more than half of those didn't sell under the hammer.
Sydney, on the other hand, is faring better by the week, with the weekend's preliminary auction clearance rate now rising to sit above 70 per cent.
Source: Dr. Andrew Wilson, My Housing Market
Over the full week Sydney had a total of 662 scheduled auctions, a surprisingly solid volume, with a preliminary clearance rate of 72 per cent, according to CoreLogic's more comprehensive weekly figures.
Sydney's dwelling prices stopped falling over the past week, while Brisbane recorded +0.2 per cent growth.
Melbourne's housing prices continued to decline by a further -0.4 per cent, to be -4.7 per cent from their April highs, according to CoreLogic.
Somehow Victoria is still, even now, recording more than 200 new cases per day of COVID-19, despite the Stage 4 lockdown measures.
Fortunately there have been very few cases elsewhere, save for a few returned overseas travellers in quarantine, and the positive news is that nationally the trend is still down.
Hopefully there will be some better news on the virus this week.
Unfortunately Melbourne appears likely to remain locked down for a long while to come, regardless of the COVID-19 results, which will send hundreds of small businesses to the wall.
CapEx actuals and plans this week...
