Sydney ends falling trend as overall home values see further stabilisation

Sydney ended its weekly trend of falls and held steady after declining the previous two weeks, along with Brisbane and Adelaide, while both Melbourne and Perth declined by 0.1 per cent, the latest CoreLogic Property Market Indicator showed.

Listings fell in most capital cities, with the biggest decline reported in Hobart at 12 per cent, followed by Canberra and Perth at 8.6 per cent and 5.7 per cent, respectively.

Meanwhile, Darwin performed the strongest for listings at 14 per cent.

Houses remained more popular than units, with the median time on market slightly increasing, although Hobart, Canberra and Melbourne yet again were the top performers at 25 days, 29 days and 31 days, respectively.

The worst performers for houses were Brisbane, Darwin and Perth at 61 days, 64 days and 71 days, respectively.

Vendor discounting across most capital cities was between 4.9 per cent and 6.3 per cent for houses and between 4.4 per cent and 8.2 per cent for units.

Canberra was the low-end exception for houses at 4.2 per cent, and Hobart was the low-end exception for units at 2.1 per cent.

Perth was the high-end exception for both houses and units at 7.6 per cent and 11.4 per cent, respectively.