New figures show buyer's market gains pace nationwide
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1 minute read

New figures show buyer's market gains pace nationwide

New figures show buyer's market gains pace nationwide

by Sasha Karen | February 05, 2019 | 1 minute read

Just one capital city market avoided a value decline over the last week, and instead held steady.

February 05, 2019

Combined, the daily home value index fell by 0.3 of a percentage point in the week ending 3 February, according to CoreLogic.

PerthPerth, TAS Perth, WA fell by 0.4 of a percentage point, followed by Sydney with 0.3 of a percentage point, Melbourne with 0.2 of a percentage point and Brisbane with 0.1 of a percentage point.

Adelaide avoided any declines and remained unchanged.

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The monthly index was down by 1.2 per cent for the week. It fell by 7.4 per cent for the year. Sydney and Melbourne remained the main drivers at declines of 9.8 per cent and 8.4 per cent, respectively.

Listings fell in all but two capital cities for the week, with Darwin and Hobart seeing rises of 3.5 per cent and 4.9 per cent, respectively. In contrast, Canberra and Sydney saw the largest listing declines of 25.7 per cent and 21.9 per cent.

Houses remained more popular than units, and the average time for houses on market rose across every capital city. Both Hobart houses and units had the fastest time on market at 46 and 34 days, respectively.

Meanwhile, Perth houses and units were the slowest at 86 and 99 days, respectively.

Vendor discounting was between 5.8 per cent and 8.3 per cent for houses across most capital cities, and between 6 per cent and 9 per cent for units.

Canberra was the low-end exception for both houses and units, at 3.9 per cent and 3.5 per cent, respectively.

Both Sydney and Melbourne were both the high-end exception for houses at 8.6 per cent, while Perth was the high-end exception for units at 10.5 per cent.

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