Home values slip in every capital city, listings decline in most

By Tim Neary 19 February 2018 | 1 minute read

Every capital city saw home values decline this week, the latest CoreLogic data shows.

downward arrow

Combined, the daily home value index fell by 0.1 per cent in the week ending 18 February.

Sydney fell by 0.2 per cent, while Melbourne, Brisbane, Adelaide 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 2.4 per cent for the year. Melbourne remained the prime mover at 7.3 per cent, with Brisbane and Adelaide contributing 1.9 per cent and 2.3 per cent, respectively.

Listings fell again last week across most capital cities, led by Brisbane and Hobart at 7.0 per cent and 19.4 per cent, respectively. Sydney and Perth experienced gains, at 3.4 per cent and 8.0 per cent, respectively.

Houses remained more popular than units, and the average time on market for both houses and units rose last week, with only Hobart holding steady at 30 days for houses and 38 days for units.

The worst performers for houses were Perth at 84 days, Darwin at 98 days and Brisbane at 73 days. For units Darwin performed the poorest at 156 days.

Vendor discounting across most capital cities was between 4.3 per cent and 7.5 per cent for houses, and between 4.4 per cent and 6.1 per cent for units.

Canberra was the low-end exception for both houses and units at 4.0 per cent and 3.9 per cent for units.

Darwin was the high-end exception for houses at 9.3 per cent and Perth for units 9.6 per cent.

RELATED TERMS

Capital

Capital refers to the financial resources that are available to be used for income generation.

House

A house refers to a building or property used as living quarters or an individual’s place of permanent or temporary residence.

House

A house refers to a building or property used as living quarters or an individual’s place of permanent or temporary residence.

Listing

A listing refers to property available for sale.

Listing

A listing refers to the agreement that gives an agent or broker the right to handle the sale of a property and receive a fee or commission for their services.

About the author



Home values slip in every capital city, listings decline in most
Home values slip in every capital city, listings decline in most
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.