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2 cities see value increases as Sydney, Melbourne continue to cool

By
19 June 2018 | 9 minute read
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Only two capital markets rose this week, as all of the others, including Sydney and Melbourne, lost value, the latest CoreLogic data showed.

The combined daily home value index declined by 0.1 of a percentage point during the week ending 17 June.

Both Adelaide and Brisbane continued their rising trend by 0.1 of a percentage point. Sydney, Melbourne and Perth, however, declined by 0.1 of a percentage point.

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Listings continued to decline across every capital city, with a combined decline of 6.2 per cent. Brisbane saw the smallest decline at 0.2 of a percentage point, while the largest declines were once again noticed in Adelaide, Sydney and Darwin at 7.7 per cent, 11.3 per cent and 20.9 per cent.

Houses remained more popular than units, with the median time on market rising compared to last week. Continuing on from last week’s trend, Hobart, Canberra and Melbourne were the best performers for houses, with the median time on market at 28 days, 29 days and 32 days, respectively.

The worst performers for houses were the same as last week: Brisbane, Perth and Darwin at 62 days, 82 days and 86 days, respectively.

Vendor discounting across most capital cities was between 4.3 per cent and 7.7 per cent for houses, and between 4.6 per cent and 8.6 per cent for units.

Canberra was the low-end exception for houses and units at 2.8 per cent and 3.6 per cent, respectively.

Darwin was both the high-end exception for houses and units at 9.4 per cent and 13.6 per cent, respectively.

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