Research

Most capital cities see active home values

By Tim Neary
Most capital cities see active home values

According to the latest CoreLogic data, home values were active across the majority of capital cities last week with two dropping, one rising and the others holding firm.

Combined, the daily home value index remained flat in the week ending 7 January.

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

The monthly index fell by 0.4 per cent for the week. It rose by 4.1 per cent for the year. Melbourne remained the prime mover at 8.8 per cent, with Sydney, Brisbane and Adelaide contributing 2.8 per cent, 2.4 per cent and 2.9 per cent, respectively.

Listings fell last week across most capital cities, led by Hobart, Adelaide and Melbourne at -19.9 per cent, -13.3 per cent and -13.2 per cent, respectively. Darwin experienced the largest gain at 14.8 per cent.

Houses remained more popular than units, and the average time for houses on market rose last week, with Canberra, Hobart and Melbourne performing best — all at 29 days.

Perth and Darwin performed worst at 68 days and 62 days each.

Vendor discounting across most capital cities was between 4.2 per cent and 5.7 per cent for houses, and between 4.0 per cent and 7.2 per cent for units.

Canberra was the low-end exception for both houses and units at 3.6 per cent and 3.8 per cent, respectively.

Darwin was the high-end exception for houses at 10.2 per cent and Perth for units at 9.5 per cent.

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Most capital cities see active home values
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