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Most capital city home values keep climbing

By Tim Neary 27 November 2017 | 1 minute read

The latest CoreLogic data shows home values are climbing in all but two capital cities, with one falling and the other holding steady.

city home values, house values climbing

Combined, the daily home value index held steady in the week ending 26 November.

Melbourne and Adelaide both climbed by 0.1 per cent, PerthPerth, TAS Perth, WA climbed by 0.2 per cent, Sydney remained flat and Brisbane tailed off by 0.1 per cent, CoreLogic’s Property Market Indicator data showed.

The monthly index fell by 0.1 per cent for the week. It rose by 6.1 per cent for the year. Sydney and Melbourne remained the main drivers at 6.1 per cent and 10.4 per cent, respectively, with Adelaide chipping in again at 3.9 per cent.

Listings climbed last week across most capital cities, led by Melbourne and Darwin at 5.6 per cent and 4.9 per cent, respectively. Hobart and Perth experienced the largest drops at 14.1 per cent and 5.5 per cent, respectively.

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Houses remained more popular than units, and the average time for houses on market fell last week, with Canberra, Hobart and Melbourne performing best at 23 days, 24 days and 28 days, respectively.

Perth and Darwin performed worst at 71 days and 76 days each.

Vendor discounting across most capital cities was between 4.9 per cent and 5.5 per cent for houses, and between 4.2 per cent and 6.7 per cent for units.

Canberra was the low-end exception for both houses and units at 1.9 per cent and 3.6 per cent, respectively.

Perth was the high-end exception for houses at 8.3 per cent, and Darwin was the high-end exception for units at 10.9 per cent.

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Most capital city home values keep climbing
city home values, house values climbing
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