Two graphs show the extent of the pickup in the Australian housing market across all capital cities

Two graphs show the extent of the pickup in the Australian housing market across all capital cities. It shows the rising clearance rates in 2013, rising from below 50% to almost 80% of late. Furthermore, the average dwelling price has risen from $560,000 to just below $600,000. This rise has pushed property prices above the previous all-time high in October 2010, with Sydney prices already 6.6% above this level. Both Sydney and Melbourne have recorded rises of at least 5% in the September quarter according to RP Data. The housing market is being driven by the two largest markets, with most other capital cities remaining flat or falling. (VIEW LINK) (VIEW LINK)