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Home values fell in all but two capital cities last week, where one held steady and the other climbed marginally, according to the latest CoreLogic data.
Combined, the daily home value index fell by 0.1 of a percentage point in the week ending 28 April.
Value fell in Sydney and Melbourne by 0.2 of a percentage point each, and in Perth by 0.1 of a percentage point. Value held steady in Brisbane and rose in Adelaide by 0.1 of a percentage point, CoreLogic’s Property Market Indicator data showed.
The monthly index was down by 0.5 of a percentage point for the week. It fell by 8.8 per cent for the year. Sydney, Melbourne and Perth were the main drivers at 10.9 per cent, 10.0 per cent and 8.3 per cent.
Listings dropped in all capital cities for the week. Both Sydney and Melbourne fell sharply at 37.3 per cent and 37.7 per cent.
Houses remained more popular than units, and the average time for houses on market continued to remain high in most capital cities. Canberra faired best at 39 days; but Brisbane, Perth and Darwin blew out, at 66 days, 77 days and 93 days, respectively.
For units, Hobart was best at 26 days, while Brisbane and Darwin were slowest at 78 days and 84 days each.
Vendor discounting was between 5.3 per cent and 8.0 per cent for houses across most capital cities, and between 5.9 per cent and 6.5 per cent for units.
Canberra was the low-end exception for houses at 3.9 per cent, and for units it was Hobart at 3.2 per cent.
Darwin was the high-end exception for both houses and units, at 8.8 per cent and 17.0 per cent each.
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