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Capital city home values fluctuate; listings trend downward

Capital city home values fluctuate; listings trend downward

Capital city home values fluctuate
by Tim Neary 0 comments

Home values fluctuated last week across most capital cities while listings continued to decline, according to the latest CoreLogic data.

The combined daily home value index held steady in the week ending 11 March.

Sydney and Adelaide both declined by 0.1 per cent, Melbourne held steady, while Perth saw a rise of 0.1 per cent and Brisbane of 0.2 per cent, the latest CoreLogic Property Market Indicator showed.

Listings declined across most capital cities, with the biggest decline in Darwin at a fall of 22.1 per cent, followed by last week’s lowest performers Hobart and Canberra at 12.6 per cent and 10.7 per cent, respectively.

Meanwhile, Perth continued to be the best performing capital city for listings growth at 4.1 per cent, followed by Sydney at just 0.4 per cent.

Houses remained more popular than units, with the median time on market slightly decreasing overall, with Hobart, Canberra and Melbourne continuing to lead the way at 26 days, 28 days and 29 days, respectively.

The worst performers for houses were Brisbane, Perth and Darwin at 71 days, 84 days and 101 days, respectively.

Vendor discounting across most capital cities was between 4.2 per cent and 7.5 per cent for houses and between 4.4 per cent and 6.7 per cent for units.

Canberra was the low-end exception for both houses and units at 3.0 per cent and 2.8 per cent, respectively.

Darwin was the high-end exception for houses at 8.6 per cent and Perth for units at 8 per cent.

Capital city home values fluctuate; listings trend downward
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