We’re in a two-speed housing market: ANZ

The contrasting house prices across the country have seen a two-speed housing market emerging, according to ANZ Research’s David Cannington.

On the one hand, Sydney has seen house prices continue to grow strongly over the past week. Other capital cities reported tentative increases.

Sydney, Melbourne, Brisbane and Perth’s prices all rose slightly, while Adelaide eased.

Meanwhile, prices were noted to be increasing in trend terms in Sydney, Adelaide and Perth, while an easing was noted in Melbourne and Brisbane.

“Looking ahead, steady consumer confidence and moderation in auction clearance rates in recent weeks foreshadow some modest easing in home buyer demand and likely more moderate home price gains in Sydney and Melbourne in particular,” noted Cannington.