Little movement in home values across the country

Sydney fell by 0.1 per cent, Melbourne increased by 0.2 per cent and the rest remained unchanged, CoreLogic’s Property Market Indicator data showed.

The monthly index also remained flat for the week. It rose by 7.1 per cent for the year. Sydney and Melbourne remained the main drivers at 7.9 per cent and 11.1 per cent, respectively.

Listings rose across most capital cities, where only Sydney and Adelaide recorded modest increases and Canberra once again accelerated impressively, this time by 27.9 per cent.

Brisbane, Darwin and Perth all fell substantially by 10.5 per cent, 13.6 per cent and 9.2 per cent, respectively.

Houses remained more popular than units, and the average time for houses on market lengthened slightly last week, with Canberra, Melbourne and Sydney performing best at 29 days, 29 days and 31 days, respectively.

Perth and Darwin performed the worst at 76 days and 108 days each.

Vendor discounting across most capital cities was between 3.8 per cent and 7.0 per cent for houses, and between 4.2 per cent and 6.4 per cent for units.

Canberra was the low-end exception for both houses and units at 2.5 per cent and 3.6 per cent, respectively.

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