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Home value volatility continued this week, rising in one capital city, falling in three and remaining unchanged in two, according to the latest CoreLogic data.
However, combined, the daily home value index remained unchanged in the week ending 30 June.
Value rose in Melbourne by 0.2 of a percentage point, fell in Brisbane and Perth by 0.2 and 0.1 of a percentage point, respectively, and stayed level in Sydney and Adelaide, CoreLogic’s Property Market Indicator data showed.
The monthly index also remained unchanged for the week. It fell by 8.3 per cent for the year. Sydney and Melbourne remained the main drivers of the 12-month change, despite their performance during the week.
Listings dropped in all capital cities for the week. Melbourne and Sydney were the biggest losers at 31.9 and 29.5 per cent each.
Houses remained more popular than units, and the average time for houses on market held steady in most capital cities. Hobart faired best at 35 days, and both Sydney and Melbourne recovered to 45 days and 43 days, respectively.
For units, Melbourne was best at 43 days, and Hobart and Sydney followed at 46 days and 51 days, respectively.
Vendor discounting was between 6.8 per cent and 8.8 per cent for houses across most capital cities, and between 5.6 per cent and 7.5 per cent for units.
Canberra was the low-end exception for both houses and units, at 3.6 per cent and 4.9 per cent, respectively.
Darwin was the high-end exception for houses at 9.4 per cent, and Perth was the high-end exception for units at 11.2 per cent.
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