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Values slip in biggest markets while rest of country stabilise

17 July 2018 Tim Neary
home values slip, arrow down, Sydney, Melbourne and Perth, latest CoreLogic data

Sydney, Melbourne and Perth all fell while the other capital cities held on, the latest CoreLogic data showed.

The combined Daily Home Value Index declined by 0.1 of a percentage point during the week ending 8 July.

All of Sydney, Melbourne and Perth fell by 0.1 of a percentage point while both Brisbane and Adelaide both remained unchanged last week.

Listings continued to fall across all capital cities, with the exception of Hobart, which lifted by 6.8 per cent marginally. Somewhat surprisingly, the largest falls came in Darwin and Canberra.

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Houses remained more popular than units, with the average time on market drifting in all capitals. Hobart, Canberra and Melbourne performed best for houses at 30 days, 36 days and 34 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 4.0 per cent and 5.8 per cent for houses, and between 6.2 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.

Values slip in biggest markets while rest of country stabilise
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