Value on the rise across most of Australia

By Tim Neary
Value on the rise

Home values climbed in all but one of Australia’s capital cities last week, with only Adelaide falling into negative territory, according to the latest CoreLogic data.

Combined, the daily home value index grew 0.8 per cent in the week ending 2 July.

At 1.4 per cent, Melbourne’s gain was the highest, with Sydney, Brisbane and PerthPerth, TAS Perth, WA following at 0.8 per cent, 0.5 per cent and 0.1 per cent respectively. Adelaide fell 0.2 per cent, CoreLogic’s Property Market Indicator data shows.

The monthly index was up 2.0 per cent for the week. It rose 10.0 per cent for the year. Sydney and Melbourne were the drivers at 12.6 per cent and 14.1 per cent respectively.

Listings remained divided across most of Australia’s capital cities last week. At 19.4 per cent, Hobart was the most buoyant. Sydney followed at 18.2 per cent, while Darwin and Perth fell -3.7 per cent and -7.3 per cent respectively.

Houses remained more popular than units and the average time for houses on market was largely steady in most capital cities. Sydney and Melbourne fared the best at 29 days each, followed by Canberra and Hobart at 30 days and 33 days respectively.

Sydney performed the best for units at 29 days, followed by Melbourne at 31 days.

Vendor discounting was between 4.1 per cent and 5.9 per cent for houses across most capital cities, and between 4.7 per cent and 6.0 per cent for units.

Hobart was the low-end exception for houses at 3.7 per cent and Sydney was the low-end exception for units at 4.5 per cent.

Darwin was the high-side exception for houses at 8.2 per cent and Perth for units at 9.4 per cent.


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Value on the rise across most of Australia
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