One capital city sees values up while values down on the whole

Adelaide was the only capital city to see a rise in its home value this week, the sixth rise in a row. While Brisbane’s rising trend stopped, it did not decline either, holding steady. Sydney, Melbourne and Perth all declined, with the former two capital cities declining 0.1 of a percentage point, and Perth declining by 0.4 of a percentage point. 

Listings continued to decline across every capital city with the exception of Canberra, with a combined decline of 7.5 per cent. Canberra held steady, while the largest declines were once again noticed in Adelaide, Sydney and Darwin at a respective 6.2 per cent, 10.5 per cent and 11 per cent.

Houses remained more popular than units, with the median time on market rising compared to last week. Continuing on from last week’s trend, Hobart, Canberra and Melbourne were the best performers for houses, with the median time on market at 29 days, 33 days and 33 days, respectively.

The worst performers for houses were the same as last week: Brisbane, Perth and Darwin at 64 days, 83 days and 91 days, respectively.

Vendor discounting across most capital cities was between 3.6 per cent and 7.6 per cent for houses, and between 4.9 per cent and 9.0 per cent for units.

Canberra was the low-end exception for houses and units at 2.4 per cent and 3.4 per cent, respectively.

Darwin was both the high-end exception for houses and units at 9.7 per cent and 12.6 per cent, respectively.