Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Value up in one capital city, slides in others

12 November 2018 Tim Neary
Arrow up and down

One lone capital city has shone the light of value growth over the last week, amid a wave of general decline, new data indicates.

Brisbane was the only major capital city to record a home value change over the last week with a rise of 0.2 of a percentage point.

Meanwhile, Sydney, Melbourne and Adelaide all recorded declines of 0.1 of a percentage point and Perth dropped by 0.4 of a percentage point.

The combined weekly change declined by 0.1 of a percentage point and the combined monthly change decline by 0.4 of a percentage point, according to the CoreLogic Property Market Indicator for the week ending 11 November.

Listings declined slightly week on week, with Darwin, Hobart and Canberra defying trends by rising 31.9 per cent, 14.6 per cent and 0.2 of a percentage point, respectively.

Meanwhile, Sydney saw the largest listing fall of 8.2 per cent, which was then followed by Melbourne with a decline of 3.2 per cent and then Brisbane with a decline of 1.9 per cent.

Houses remained more popular than units, with the average time on market rising slightly across the capital cities. Canberra, Hobart and Melbourne performed best for houses yet again at 28 days, 31 days and 33 days, respectively.

For units, Hobart and Melbourne were the top performers yet again at 30 days and 33 days, respectively.

Vendor discounting across most capital cities was between 4.8 per cent and 7.7 per cent for houses, and between 5.6 per cent and 10.7 per cent for units.

Canberra was the low-end exception for houses and units at 3.3 per cent and 2.5 per cent, respectively.

Darwin was the high-end exception for both houses and units at 8 per cent and 16.1 per cent, respectively.

Value up in one capital city, slides in others
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network

What is the worst mistake vendors make?

Price too high
Taking low offers too personally
Neglecting curb appeal
Not ‘staging’ the home for sale
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.