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That seems to be quite often these days." The price range of homes such as 201 Morris Road on a 660-square-metre block were still benefiting from stamp duty exemptions introduced in Victoria last year in an effort to make it easier for first home buyers to get into the housing market. Across the eastern seaboard, the residential market is picking up steam - the number of scheduled auctions was up from just 276 last week - but the outlook is for a more subdued year. A faster-than-expected deterioration in Sydney prompted NAB, the fourth-biggest lender, to slash its outlook for house prices this year. It now expects houses to fall 2.4 per cent and apartments to slip 1.8 per cent in the country's largest city. It predicts continued growth in Melbourne houses and apartments this year, with units in the Victorian capital to fall next year. Best in the west: This four-bedroom house at 201 Morris Road, Hopper's Crossing, sold for 'tens of thousands' above its reserve price to $680,000 on Saturday. Dwelling prices overvalued relative to wages and high levels of household indebtedness also put the country's two largest housing markets at risk of price corrections, separate reports by JP Morgan and Industry Super Australia warned. While Melbourne overall recorded a preliminary 72.8 per cent auction clearance rate, Sydney was more subdued and with auctions in smaller numbers. Preliminary results of a 157 reported auctions - out of a scheduled 207 - showed a 63.1 per cent clearance rate. The Central Coast was the most strongest region, with a clearance rate of 76.9 per cent across 19 auctions.