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Values fall in all but one capital city

By Tim Neary
29 October 2018 | 1 minute read
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Home values have fallen in all but one capital city, according to the latest data from CoreLogic.

The highest fall last week was in Perth at 0.3 of a percentage point, followed by Melbourne at 0.2 of a percentage point, and Sydney and Adelaide each at 0.1 of a percentage point. Brisbane reversed the trend, climbing by 0.1 of a percentage point.

The combined weekly change was -0.1 of a percentage point and the combined monthly change was -0.6 of a percentage point, according to the CoreLogic Property Market Indicator for the week ending 28 October.

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Listings held steady week on week, with Brisbane and Melbourne rising marginally at 1.4 per cent and 2.7 per cent, respectively, and Adelaide and Hobart falling marginally at 3.8 per cent and 0.2 of a percentage point, respectively.

Darwin was the standout performer at 18.5 per cent.

Sydney and Canberra performed worst, falling by 12.3 per cent and 7.1 per cent, respectively.

Houses remained more popular than units, with the average time on market rising slightly across the capital cities. Canberra, Hobart and Melbourne performed best for houses at 28 days, 27 days and 35 days, respectively.

For units, Hobart and Melbourne were best at 27 days and 36 days, respectively.

Vendor discounting across most capital cities was between 4.2 per cent and 5.8  per cent for houses, and between 5.3 per cent and 9.6 per cent for units.

Canberra was the low-end exception for houses and units at 3.1 per cent and 3.5 per cent, respectively.

Darwin was the high-end exception for both houses and units at 9.6 per cent and 14.9 per cent, respectively.

Values fall in all but one capital city
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