No value rises as capital cities mostly hold steady, few decline

Continuing from the week prior, Perth was the week’s largest declining major capital city, falling 0.2 of a percentage point. Adelaide was next, declining 0.1 per cent of a percentage point, while Sydney, Melbourne and Brisbane all held steady and did not move.

Listings declined across most of the capital cities, with the exceptions of Hobart and Canberra yet again, recording rises of 9 per cent and 4.9 per cent respectively.

Houses remained more popular than units, with the average time on market for the most part rising across the capital cities. Keeping consistent with weekly trends, Canberra, Hobart and Melbourne performed the best for houses at 28 days, 30 days and 33 days respectively. For units, Hobart, Melbourne and Sydney led the pack for quickest days on market at 31 days, 33 days and 43 days respectively.

Vendor discounting across most capital cities was between 5.1 per cent and 7.1 per cent for houses, and between 5.2 per cent and 9.6 per cent for units.

Canberra was the low-end exception for houses and units at 2.8 per cent and 3.8 per cent respectively.

Perth was the high-end exception for houses at 8.2 per cent while Darwin was the high-end exception for units at 12.3 per cent.