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Value falls in all but one capital city, latest data shows

By Tim Neary
15 October 2018 | 9 minute read
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Value fell in all but one capital city last week, keeping the declining trend intact, the most recent data shows.

Every declining capital city declined equally, with Sydney, Melbourne and Perth all declining by 0.2 of a percentage point, according to figures from CoreLogic.

Brisbane recorded no movement, while Adelaide recorded a rise of 0.1 of a percentage point.

The combined weekly change was -0.2 of a percentage point for the week ending 14 October 2018.

The combined monthly change was -0.6 of a percentage point once again.

Listings fell yet again week on week, with Sydney and Adelaide seeing the biggest drop at declines of 11.8 per cent and 7 per cent, respectively. Darwin stood out as the only capital city to see its listings reach double digits at 20.1 per cent.

Houses remained more popular than units, with the average time on market for the most part declining. Once again, Canberra, Hobart and Melbourne performed the best for houses for the last week at 26 days, 29 days and 34 days, respectively.

For units, Hobart, Melbourne and Sydney were yet again the top three capital cities for best days on market at 24 days, 34 days and 42 days, respectively.

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Vendor discounting across most capital cities was between 4.8 per cent and 6.7 per cent for houses, and between 5.4 per cent and 9 per cent for units.

Canberra was the low-end exception for houses and units at 2.5 per cent and 3.3 per cent, respectively.

Both Perth and Sydney were the high-end exception for houses at 7.8 per cent, while Darwin was the high-end exception for units at 10 per cent.

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