Home prices up 3.7% since start of the year

Australian capital city home prices have risen 3.7 per cent since the start of 2017.

The national auction clearance rate edged up to 74.6 per cent in the week to May 7, from 74 per cent the previous week, according to the latest data from housing market analysts CoreLogic.

The average Sydney home price has risen 4.6 per cent since January 1, despite falling 0.3 per cent over the week to Sunday, while the Melbourne price is up 5.1 per cent.

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