Home values slip in every capital city, listings decline in most

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

The monthly index fell by 0.4 per cent for the week. It rose by 2.4 per cent for the year. Melbourne remained the prime mover at 7.3 per cent, with Brisbane and Adelaide contributing 1.9 per cent and 2.3 per cent, respectively.

Listings fell again last week across most capital cities, led by Brisbane and Hobart at 7.0 per cent and 19.4 per cent, respectively. Sydney and Perth experienced gains, at 3.4 per cent and 8.0 per cent, respectively.

Houses remained more popular than units, and the average time on market for both houses and units rose last week, with only Hobart holding steady at 30 days for houses and 38 days for units.

The worst performers for houses were Perth at 84 days, Darwin at 98 days and Brisbane at 73 days. For units Darwin performed the poorest at 156 days.

Vendor discounting across most capital cities was between 4.3 per cent and 7.5 per cent for houses, and between 4.4 per cent and 6.1 per cent for units.

Canberra was the low-end exception for both houses and units at 4.0 per cent and 3.9 per cent for units.

Darwin was the high-end exception for houses at 9.3 per cent and Perth for units 9.6 per cent.