Home values continue to climb, albeit very slowly

Sydney and Melbourne climbed by 0.1 per cent and 0.2 per cent, respectively, while Brisbane held firm and Perth fell by 0.1 per cent, CoreLogic’s Property Market Indicator data showed.

The monthly index was up by 0.1 per cent for the week and has risen by 9.4 per cent for the year. Sydney and Melbourne remained the main drivers at 12.3 per cent and 12.4 per cent.

Listings held steady, with Sydney, Melbourne and Darwin holding on to their positions in the black. Darwin climbed the most at 17.6 per cent while Perth was the biggest loser again, falling by 12.9 per cent.

Houses remained more popular than units, and the average time for houses on market fell slightly, with Canberra, Melbourne and Sydney performing best at 25 days, 28 days and 30 days, respectively.

Perth and Darwin performed the worst at 94 days and 87 days each.

Vendor discounting across most capital cities was between 4.9 per cent and 5.8 per cent for houses, and between 4.2 per cent and 7.0 per cent for units.

Canberra was the low-end exception for both houses and units at 3.7 per cent and 3.0 per cent, respectively.

Darwin was the high-end exception for houses at 8.4 per cent, and Perth for units at 9.0 per cent.