Performance data reveals which capital city values held firm last week

Perth fell by 0.4 of a percentage point for another week, followed by Melbourne with 0.3 of a percentage point and then Sydney with 0.2 of a percentage point.

Both Brisbane and Adelaide avoided any declines and remained unchanged.

The monthly index was down by 1.0 per cent for the week. It fell by 7.5 per cent for the year. Sydney and Melbourne remained the main drivers at declines of 9.9 per cent and 8.7 per cent, respectively.

Following the previous week’s trends, listings fell in all but two capital cities for the week, with Darwin and Hobart experiencing rises of 3 per cent and 11.7 per cent, respectively. In contrast, Melbourne and Sydney saw the largest listings decline of 14.7 per cent and 22.2 per cent.

Houses remained more popular than units, and the average time for houses on market rose again across every capital city except for Perth, which held steady at 86 days. Both Hobart houses and units had the fastest time on market again at 47 and 34 days, respectively.

Meanwhile, Perth houses and units were the slowest again, holding steady at the previous week’s 86 and 99 days, respectively.

Vendor discounting was between 5.8 per cent and 8.4 per cent for houses across most capital cities, and between 6 per cent and 8.8 per cent for units.

Canberra was the low-end exception for both houses and units, at 3.8 per cent and 3.7 per cent, respectively.

Sydney was the high-end exception for houses at 8.7 per cent, while Perth was the high-end exception for units at 9.6 per cent.