Research

Home values fluctuate across the board, listings trending downward

By Sasha Karen
A man looking at some arrows pointing in different directions

Home values this week saw varying levels of fluctuations according to the latest CoreLogic data.

The combined daily home value index held steady in the week ending 11 March.

Sydney and Adelaide both declined by 0.1 per cent, Melbourne held steady, while PerthPerth, TAS Perth, WA saw a rise of 0.1 per cent and Brisbane by 0.2 per cent, the latest CoreLogic Property Market Indicator showed.

Listings declined across most capital cities, with the biggest decline in Darwin at a fall of 22.1 per cent, followed by last week’s lowest performers Hobart and Canberra at 12.6 per cent and 10.7 per cent respectively. Meanwhile, Perth continued to be the best performing capital city for listings growth at 4.1 per cent, followed by Sydney at just 0.4 per cent.

Houses remained more popular than units, with the median time on market slightly decreasing overall, with Hobart, Canberra and Melbourne continuing to lead the way at 26 days, 28 days and 29 days, respectively.

The worst performers for houses were Brisbane, Perth and Darwin at 71 days, 84 days and 101 days, respectively.

Vendor discounting across most capital cities was between 4.2 per cent and 7.5 per cent for houses and between 4.4 per cent and 6.7 per cent for units.

Canberra was the low-end exception for both houses and units at 3.0 per cent and 2.8 per cent, respectively.

Darwin was the high-end exception for houses at 8.6 per cent for houses and Perth for units at 8 per cent.

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Home values fluctuate across the board, listings trending downward
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