Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Home values recover in most capital cities, days on market shorten

28 May 2019 Tim Neary

Home values recovered this week, rising in three capital cities and falling in just two, according to the latest CoreLogic data.

Combined, the daily home value index fell by just 0.1 of a percentage point in the week ending 26 May.

Value climbed in Sydney, Melbourne and Adelaide; by 0.3 of a percentage point in Sydney and by 0.1 of a percentage point in both Melbourne and Adelaide, and fell in Brisbane and Perth; 0.1 of a percentage point and 0.5 of a percentage point respectively, CoreLogic’s Property Market Indicator data showed.

The monthly index was down by 0.5 of a percentage point for the week. It fell by 8.8 per cent for the year. Sydney and Melbourne remain the main drivers of the 12-month change, despite their weekly gains.

Advertisement
Advertisement

Listings dropped across many capital cities for the week, but Adelaide, Hobart and Darwin all recorded increases. Darwin was the biggest gainer at 8.1 per cent.

Houses remained more popular than units, and the average time for houses on market began to come down in most capital cities. Hobart faired best at 38 days, and both Sydney and Melbourne recovered to 50 days and 48 days respectively.

For units, Hobart was also best at 36 days, and Sydney and Melbourne recovered to 52 days and 45 days respectively.

Vendor discounting was between 5.2 per cent and 6.3 per cent for houses across most capital cities, and between 6.8 per cent and 7.8 per cent for units.

Canberra was the low-end exception for both houses and units, at 4.0 per cent 5.1 per cent respectively.

Darwin was the high-end exception for both houses and units, at 9.4 per cent and 10.9 per cent, respectively.

Home values recover in most capital cities, days on market shorten
adelaide reb 1
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network

 

Subscribe to our RPM mailing list

 

Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.