Home values on the decline, listings keep trending downward
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Home values on the decline, listings keep trending downward

Home values on the decline, listings keep trending downward

by Sasha Karen | March 19, 2018 | 1 minute read

Home values are now starting to slip after last week’s fluctuations across the board, according to the latest CoreLogic data.

listings keep trending downward, values on the decline
March 19, 2018

The combined daily home value index declined 0.1 per cent in the week ending 18 March.

Sydney, Melbourne and Adelaide all declined by 0.1 per cent for the week, while Brisbane and PerthPerth, TAS Perth, WA held steady, the latest CoreLogic Property Market Indicator showed.

New listings declined across all but one of the capital cities, with the biggest decline in Darwin at a fall of 17.7 per cent, followed by one of last week’s lowest performers, Hobart and Melbourne at falls of 12.2 per cent and 6.8 per cent, respectively. Meanwhile, Perth continued to be the best performing capital city for listings growth at 2.2 per cent.

Houses remained more popular than units, with the median time on market slightly decreasing overall, with Hobart, Canberra and Melbourne continuing to lead the way for houses at 25 days, 27 days and 29 days, respectively.

Some of the worst performers for houses were Brisbane and Perth at 69 days and 84 days, respectively.

Darwin in particular saw the best improvement for its time on market for both houses and units. For houses, an improvement of 85 days, down 16 days (yet still was the worst performer for houses) and units saw an improvement of 64 days, down 23 days.

Vendor discounting across most capital cities was between 4.1 per cent and 7.5 per cent for houses and between 3.6 per cent and 8.3 per cent for units.

Canberra was the low-end exception for both houses and units at 3.0 per cent and 3.1 per cent, respectively.

Darwin was the high-end exception for houses and units at 7.7 per cent and 13.2 per cent, respectively.

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