Metro Melbourne surpasses $1m mark for the first time
While it has lagged behind other capital cities in post-pandemic recovery, Melbourne has now cemented its resilience, re...
Home values increased in all but one capital city last week, with only Sydney recording a drop, according to the latest CoreLogic data.
Combined, the daily home value index remained level in the week ending 15 October.
Only Sydney experienced a drop, recorded at 0.2 per cent.
The monthly index was up by 0.2 per cent for the week. It rose by 7.9 per cent for the year. Sydney and Melbourne remained the main drivers at 9.1 per cent and 11.6 per cent, respectively.
Listings fell across most capital cities, with only Sydney, Adelaide and Canberra recording positive returns. Canberra recorded an impressive 25.5 per cent increase.
Brisbane and Perth were the two biggest fallers at -10.9 per cent and -8.1 per cent, respectively.
Houses remained more popular than units, and the average time for houses on market shortened slightly last week, with Canberra, Melbourne and Sydney performing best at 27 days, 29 days and 30 days, respectively.
Perth and Darwin performed the worst at 80 days each.
Vendor discounting across most capital cities was between 5.0 per cent and 7.2 per cent for houses, and between 4.2 per cent and 6.0 per cent for units.
Canberra was the low-end exception for both houses and units at 3.0 per cent and 3.2 per cent, respectively.
Darwin was the high-end exception for houses at 8.9 per cent and Perth for units at 9.0 per cent.