Research

Home values remain buoyant across most capital cities

By Tim Neary
Home values remain buoyant across most capital cities

The latest CoreLogic data showed home values climbed across the majority of capital cities again last week but fell in one and remained level in another.

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

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

The monthly index fell by 0.1 per cent for the week. It rose by 5.3 per cent for the year. Melbourne is the main driver of this at 10.0 per cent, with Sydney, Brisbane and Adelaide all contributing at 4.8 per cent, 2.4 per cent and 3.4 per cent respectively.

Listings fell last week across most capital cities, led by Hobart and Perth at -15.5 per cent and – 9.9 per cent, respectively. Darwin and Adelaide reversed the trend, climbing 2.0 per cent and 0.9 per cent respectively.

Houses remained more popular than units, and the average time for houses on market climbed last week, with Canberra, Hobart and Melbourne performing best at 23 days, 25 days and 29 days, respectively.

Perth and Darwin performed worst at 69 days and 77 days each.

Vendor discounting across most capital cities was between 5.2 per cent and 7.3 per cent for houses, and between 4.0 per cent and 6.4 per cent for units.

Canberra was the low-end exception for both houses and units at 2.2 per cent and 3.5 per cent, respectively.

Darwin was the high-end exception for both houses and units at 9.7 per cent and 11.3 per cent respectively.

 

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Home values remain buoyant across most capital cities
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