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Values remain unstable as listings begin to wane, latest data shows

Values remain unstable as listings begin to wane, latest data shows

by Tim Neary 0 comments

Home values continue to fluctuate and listings continue to slide across the country’s capital cities, the latest CoreLogic data shows.

The combined daily home value index held steady and did not move in the week ending 15 April.

Melbourne, Adelaide, Sydney and Perth fell by 0.1 per cent, and Brisbane was the only major capital city to see a rise by 0.1 per cent, the latest CoreLogic Property Market Indicator showed.

Listings fell in most capital cities, with the biggest decline reported in Hobart at 12.1 per cent, followed by Darwin and Adelaide at 8.3 per cent and 6 per cent, respectively.

Meanwhile, Canberra performed the strongest for listings at 20.9 per cent.

Houses remained more popular than units, with the median time on market slightly increasing, although Hobart, Canberra and Melbourne yet again were the top performers at 24 days, 29 days and 30 days, respectively.

The worst performers for houses were Brisbane, Darwin and Perth at 61 days, 68 days and 70 days, respectively.

Vendor discounting across most capital cities was between 4.3 per cent and 7.4 per cent for houses and between 4.2 per cent and 7.9 per cent for units.

Canberra and Hobart were the low-end exceptions for houses, both at 4.1 per cent, and Hobart was the low-end exception for units at 3.7 per cent.

Darwin was the high-end exception for houses at 7.6 per cent and Perth for units at 8.6 per cent.

Values remain unstable as listings begin to wane, latest data shows
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