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Combined home values rose again last week across Australia’s capital cities, albeit only marginally, according to the latest CoreLogic data.
The daily home value index climbed 0.1 per cent in the week ending 5 February.
Sydney and Brisbane moved up 0.6 per cent and 0.5 per cent respectively, while Melbourne, Adelaide and Perth recorded increases of 0.5 per cent, 0.1 per cent and 0.2 per cent respectively, CoreLogic’s Property Market Indicator data shows.
The monthly index was up as well, this time by 0.9 per cent. It was up 10.8 per cent for the year, with Sydney and Melbourne the main drivers again last week at 16.3 per cent and 11.5 per cent respectively.
All capital cities, except Sydney, reported a drop in new listings. At -29.2 per cent, Darwin is the biggest loser again, with Hobart (-14.3 per cent), Perth (-13.0 per cent) and Adelaide (-10.4 per cent) not far behind. Sydney performed the best at +9.1 per cent.
Houses remained more popular than units, and the average time for houses on market reduced in all capital cities, with Hobart faring the best again at 44 days, followed by Melbourne at 48 days.
Hobart also performed the best for units at 47 days, followed by Sydney at 57 days and Melbourne at 61 days.
Vendor discounting was between 4 per cent and 5.5 per cent for houses across most capital cities, and between 4 per cent and 6.5 per cent for units.
Canberra was the exception on the low end, at 2.6 per cent for houses and 2.8 per cent for units.
Darwin and Perth were on the high side, with exceptions for houses at 8.2 per cent. Darwin was the high-side exception for units at 11.3 per cent.
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