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Home values remain flat across Australian capital cities

Home values remain flat across Australian capital cities

Home values
by Tim Neary 0 comments

Home values increased in only two capital cities last week, with only Melbourne and Brisbane recording increases, according to the latest CoreLogic data.

Combined, the daily home value index remained level in the week ending 8 October.

Sydney and Adelaide remained level and Perth fell by 0.1 per cent. Melbourne climbed by 0.1 per cent and Brisbane climbed by 0.2 per cent, CoreLogic’s Property Market Indicator data showed.

The monthly index was up by 0.2 per cent for the week. It rose by 8.3 per cent for the year. Sydney and Melbourne remained the main drivers at 10.0 per cent and 11.9 per cent, respectively.

Listings fell across most capital cities, with only Sydney, Adelaide and Canberra recording positive returns. Perth and Hobart were the two biggest fallers at -10.6 per cent and -16.2 per cent, respectively.

Houses remained more popular than units, and the average time for houses on market lengthened slightly last week, with Canberra, Melbourne and Sydney performing best at 26 days, 28 days and 30 days, respectively.

Perth and Darwin performed the worst at 83 days and 80 days each.

Vendor discounting across most capital cities was between 4.9 per cent and 7.5 per cent for houses, and between 4.3 per cent and 6.0 per cent for units.

Canberra was the low-end exception for both houses and units at 3.8 per cent and 2.7 per cent, respectively.

Darwin was the high-end exception for houses at 9.6 per cent and Perth for units at 9.3 per cent.

Home values remain flat across Australian capital cities
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