The 5 key property benchmarks that First National agents sense are shaping the national residential market

The housing market in Australia is in much better shape than it was a year ago, according to First National Real Estate’s 2013 property market outlook mid-year update.

Nationwide, the measure of house prices has increased by around 4% since 2012, following a decline for the previous 18 months.

Home lending approvals and auction clearance rates have both risen.

Equity prices are up over 20% since mid-2012.

Consumer confidence levels are well above long-run averages.

Auction clearance rates are consistently higher than 60% nationally, and around 70% in Melbourne and Sydney.

Market snapshot as of May 19: