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Home values across Australia can’t get a rise out of vendors

Home values across Australia can’t get a rise out of vendors

Home values across Australia
by Sasha Karen 0 comments

The combined daily home value index declined by 0.1 of a percentage point during the week ending 8 July, according to the CoreLogic Daily Home Value Index.

No capital city saw a rise in its home value this week, with Brisbane and Adelaide holding steady. Perth, along with Sydney and Melbourne, declined by 0.1 of a percentage point.

Listings continued to decline across all capital cities, except for Canberra, continuing its listing rise from the previous week.

Houses remained more popular than units, with the average time on market rising in most capitals.

Hobart, Melbourne and Canberra performed best for houses at 30 days, 34 days and 36 days, respectively; while the longest wait occurred in Brisbane, Perth and Darwin at 63 days, 83 days and 93 days, respectively.

For units, Hobart and Melbourne were ahead of the others at 28 days and 34 days each.

Vendor discounting across most capital cities was between 4 per cent and 8 per cent for houses, and between 4.9 per cent and 8.8 per cent for units.

Canberra was the low-end exception for houses and units at 2.0 per cent and 4.8 per cent, respectively.

Darwin was both the high-end exception for houses and units at 10.9 per cent and 13.9 per cent, respectively.

Home values across Australia can’t get a rise out of vendors
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