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One major city records modest value increase, latest data finds

By
24 September 2018 | 8 minute read
increase property house reb

While values cooled in most capital cities, one stood out like a shining beacon of hope as it recorded a modest increase, according to the latest data from CoreLogic.

For the week ending 23 September 2018, the combined five major capitals saw a decline of 0.2 of a percentage point.

The largest declines were recorded in Sydney, Melbourne and Adelaide at falls of 0.2 of a percentage point each, while Perth declined by 0.1 of a percentage point.

Brisbane was the only capital city to avoid declines, rising instead by 0.1 of a percentage point.

Listings declined once again across most capital cities, with the exceptions of the ever-consistent Hobart and Canberra, as well as Darwin, which saw listings rise by 10.2 per cent, 11 per cent and 11.9 per cent, respectively.

Houses remained more popular than units, with the average time on market slightly rising across the capital cities. Canberra, Hobart and Melbourne performed the best for houses as these capital cities remained steady from last week at 27 days, 32 days and 33 days, respectively.

For units, Hobart, Melbourne and Sydney were on top for best days on market once again at 28 days, 31 days and 41 days, respectively.

Vendor discounting across most capital cities was between 4.9 per cent and 7.3 per cent for houses, and between 5.4 per cent and 9.3 per cent for units.

Canberra was the low-end exception for houses and units at 1.7 per cent and 3 per cent, respectively.

Perth was the high-end exception for houses at 8.4 per cent while Darwin was the high-end exception for units at 9.9 per cent.

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