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Sydney values rise amid general market uptick

Sydney values rise amid general market uptick

Sydney values, rise, general market uptick
by Sasha Karen 0 comments

Sydney, like most capital markets, saw home values climb, with only one capital city experiencing a decline, the latest CoreLogic data showed.

The combined daily home value index held steady during the week ending 10 June.

Both Adelaide and Brisbane kept their rising trend from the last few weeks, as did Sydney, with all three seeing values rise by 0.1 of a percentage point. Melbourne managed to hold steady, but Perth saw a decline of 0.1 of a percentage point.

Listings declined across every capital city, with a combined decline of 6.8 per cent. Perth saw the smallest decline at 0.2 of a percentage point, while the largest declines were once again noticed in Sydney, Adelaide and Darwin at 11.8 per cent, 12.9 per cent and 27.8 per cent, respectively.

Houses remained more popular than units, with the median time on market rising compared to last week. Continuing on from last week’s trend, Canberra, Hobart and Melbourne were the best performers for houses, with the median time on market at 27 days, 29 days and 31 days, respectively.

The worst performers for houses were the same as last week: Brisbane, Darwin and Perth at 62 days, 72 days and 80 days, respectively.

Vendor discounting across most capital cities was between 5 per cent and 7.2 per cent for houses, and between 4.5 per cent and 6.9 per cent for units.

Canberra was the low-end exception for houses and units at 2.9 per cent and 3.9 per cent, respectively.

Perth was both the high-end exception for houses and units at 7.9 per cent and 8.4 per cent, respectively.

Sydney values rise amid general market uptick
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