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How the nation's top markets performed last week

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How the nation's top markets performed last week

by Sasha Karen 01 April 2019 1 minute read

It was a mixed week of declines and holds in values last week, according to the latest price data. 

Aerial shot of properties
April 01, 2019

Combined, the daily home value index fell by 0.1 of a percentage point in the week ending 31 March, continuing on from the week prior’s trends, CoreLogic’s Property Market Indicator data showed.

This last week saw Melbourne declining by 0.2 of a percentage point, the largest decline, followed by Sydney and Brisbane, which both declined by 0.1 of a percentage point.

PerthPerth, TAS Perth, WA joined Adelaide with no value changes over the week and held steady.

The monthly index was down by 0.6 of a percentage point. It fell by 8.6 per cent for the year. Sydney, Melbourne and Perth were the main drivers once again at 10.9 per cent, 9.8 per cent and 7.7 per cent.

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As prices continued to ease, listing volumes fluctuated overall, with Sydney, Melbourne, Brisbane and Perth declined while Canberra, Darwin, Adelaide and Hobart increased.

This meant listings in Sydney declined for the sixth week in a row, yet the degree of decline has eased slightly with a fall of 10 per cent.

Houses remained more popular than units, although the average time for houses on market saw some fluctuation, with half the capital cities declining, three declining, and one holding steady. Hobart was the best capital city for selling property quickly once again at 35 days.

At the other end of the scale saw Perth with the longest wait once again at 90 days, followed by Brisbane at 71 days and then Darwin at 51 days.

For units, Hobart was once again the quickest at 29 days, and Perth, Brisbane and Darwin were the slowest with the former at 110 and the two latter 76 days, respectively.

Vendor discounting was between 5.3 per cent and 8.3 per cent for houses across most capital cities, and between 6.2 per cent and 11 per cent for units.

Canberra was once again the low-end exception for both houses and units, at 3.3 per cent for both property types.

Perth was the high-end exception for houses once again at 8.6 per cent, and Darwin was the high-end exception for units again at 15.6 per cent.

How the nation's top markets performed last week
Aerial shot of properties
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Sasha Karen

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