Clearance Rates

: The results will provide an impression of where the city hot property prices are headed next, according to Australian Broadcasting Corporation. In the 12 months to August, home values increased by an average of 18.4 per cent, according to Tim Lawless, head of research at Corelogic RP Data. "It the highest rate of capital gain since late 2002," he said. "At the same time, auction clearance rates remain well above historical averages, around the high 70 per cent mark." Even though clearance rates began easing in late winter, some agents say the current market is showing rare strength. "Any auction clearance rate around 60 per cent, for me, is great," said Aris Dendrinos of agency Richardson and Wrench Marrickville. "About 10 per cent of the properties that go to auction are probably unsaleable. Related Story: RBA warns rising house prices lift economic risks, increase inequality Related Story: Home prices surge, Melbourne and Sydney lead gains again Map: Sydney 2000 The focus on Sydney housing market is set to hit overdrive this weekend as the first spring auctions take place. Greater Sydney house values growth Inner-western Sydney: 25.7 per cent Central-western Sydney: 24.9 per cent Outer south-western Sydney: 23.1 per cent Fairfield-Liverpool: 22.5 per cent Central-northern Sydney: 22.3 per cent Blacktown: 21.3 per 19.4 per cent St George-Sutherland: 19.4 per cent Inner Sydney: 19.1 per cent Outer-western Sydney: 18.7 per cent Lower-northern Sydney: 18.5 per cent Gosford-Wyong: 15.4 per cent Northern Beaches: 15.2 per cent Eastern Suburbs: 9.3 per cent Source: Core Logic RP Data "It very rare that 100 will sell out of 100: There something not quite right with the property; the owner is unreasonable; the agent hasn't advertised it properly. But even within the metropolitan area, there are micro-trends favouring some areas over others. "Sub-regions can behave very differently depending on a wide range of factors such as the balance between supply and demand, the availability and efficiency of transport infrastructure, the mix of property types such as industrial or commercial land uses, school zones, etc," Mr Lawless said. So when you get anywhere north of 80 per cent, it crazy times." The median price for a home in Sydney is now about $1 million, making the city among the most expensive in the world in which to buy. (news.financializer.com). As reported in the news.