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Sydney, Perth slip while others gain in value

24 July 2018 Sasha Karen
Sydney, Perth, property slip, property gain in value

Values in Sydney and Perth slip a little further while the rest of the capital cities recover some ground, the latest CoreLogic data indicates.

The combined daily home value index held steady and did not move during the week ending 22 July, according to the CoreLogic Property Market Indicator Summary.

Sydney and Perth fell by 0.1 of a percentage point, Melbourne held steady, and Brisbane and Adelaide saw a rise of 0.1 of a percentage point over the last week.

Following the previous week’s trends, listings declined across all the capital cities, with the exception of Hobart which rose by 8.5 per cent. The biggest fall was recorded in Canberra, followed by Sydney.

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Houses remained more popular than units, with the average time on market rising somewhat across all capitals. Hobart, Canberra and Melbourne once again performed best for houses at 29 days, 32 days and 34 days, respectively. For units, Hobart, Melbourne and Sydney were ahead of the others at 25 days, 34 days and 43 days, respectively.

Vendor discounting across most capital cities was between 4.9 per cent and 6.8 per cent for houses, and between 6.2 per cent and 9.2 per cent for units.

Canberra was the low-end exception for houses at 2.4 per cent, while Melbourne was the low-end exception for units at 4.8 per cent.

Darwin and Perth were both the high-end exception for houses, both at 8 per cent, while Darwin was just the high-end exception for units at 13.1 per cent.

Sydney, Perth slip while others gain in value
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