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Home values continued to fall this week, with Adelaide being the only capital city to record a positive change, according to the latest CoreLogic data.
Combined, the daily home value index fell 0.2 per cent in the week ending 30 July.
Adelaide grew 0.3 per cent, while all of Sydney, Melbourne, Brisbane and Perth fell 0.3 per cent, 0.1 per cent, 0.7 per cent and 0.2 per cent, respectively, CoreLogic’s Property Market Indicator data shows.
The monthly index was up 1.1 per cent for the week. It rose 10.3 per cent for the year. Sydney and Melbourne remain the main drivers at 12.4 per cent and 15.8 per cent.
Listings remained divided across most of Australia’s capital cities last week. Canberra is still the highest mover at 23.1 per cent; Sydney and Melbourne followed at 15.4 per cent and 8.0 per cent.
Perth and Hobart were the heavy fallers this week to -17.3 per cent and 10.0 per cent, while Brisbane also recorded a 3.5 per cent drop in listings.
Houses remained more popular than units, and the average time for houses on market rose marginally in most capital cities. Melbourne fared the best at 29 days, followed by Canberra at 30 days and Sydney at 35 days.
Melbourne performed the best for units at 32 days, followed by Sydney at 34 days.
Vendor discounting was between 4.4 per cent and 5.7 per cent for houses across most capital cities, and between 4.7 per cent and 6.4 per cent for units.
Melbourne was the low-end exception for houses at 3.8 per cent, while Canberra was the low-end exception for units at 4.2 per cent.
Darwin was the high-end exception for both houses and units at 9.5 per cent and 13.5 per cent, respectively.
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