Stabilisation in value and listings across all but one capital city

By Tim Neary
Arrow going up

Aside from Sydney, home values in the major capital cities saw a positive outlook, either holding steady or rising, the latest CoreLogic data showed.

The combined daily home value index fell by 0.1 per cent in the week ending 8 April.

Adelaide and PerthPerth, TAS Perth, WA both rose by 0.1 per cent, Melbourne and Brisbane held steady and Sydney fell 0.1 per cent, the latest CoreLogic Property Market Indicator showed.

Listings also fell in all capital cities save one, Melbourne. The biggest decline was in Darwin at 13.3 per cent, followed by Adelaide and Hobart at 12.2 per cent and 11.0 per cent, respectively.

Melbourne’s listings activity rose by 0.4 per cent.

Houses remained more popular than units, with the median time on market pushing out overall, although Hobart, Canberra and Melbourne have continued to lead the way at 23 days, 27 days and 29 days, respectively.

The worst performers for houses were Brisbane, Perth and Darwin at 60 days, 76 days and 51 days, respectively.

Vendor discounting across most capital cities was between 5.1 per cent and 7.5 per cent for houses and between 5.0 per cent and 6.1 per cent for units.

Canberra was the low-end exception for houses and, along with Melbourne, for units at 4.0 per cent and 4.3 per cent, respectively.

Darwin was the high-end exception for houses at 8.1 per cent and Perth for units at 9.0 per cent.

Be the first to hear the latest property investment insights
Stabilisation in value and listings across all but one capital city
SPI logo