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Home values remained flat across Australia’s capital cities, while listings and average days on market dropped, according to the latest CoreLogic data.
The daily home value index for the five capital cities levelled out in the week ending 15 January, with Sydney, Brisbane, Adelaide and Perth falling nominally at 0.1 per cent, 0.2 per cent, 0.1 per cent and 1.3 per cent respectively, the CoreLogic Property Market Indicator data shows.
But while the weekly index remained unchanged, the monthly index was up 0.5 per cent. It was up 10.5 per cent for the year, with Sydney and Melbourne the main drivers at 15.0 per cent and 13.6 per cent respectively.
New listings continued to drop and were down in capital cities except Canberra, which was up 6.5 per cent. Darwin experienced the largest fall at 41.7 per cent, and Melbourne, Brisbane, Adelaide and Perth were down noticeably at 15.4 per cent, 12.6 per cent, 14.7 per cent and 14.3 per cent respectively.
Houses remained more popular than units for the week. The average time on market was less for houses across the board in all capital cities, with Melbourne faring the best at 30 days, followed by Canberra at 34 days, and Hobart and Sydney at 35 days.
Melbourne also performed best for units at 39 days, followed by Sydney at 41 days and Hobart at 44 days. Canberra’s average days on market for units was 54 days.
Vendor discounting was between 4.2 per cent and 5.6 per cent for houses across most capital cities, and between 4.9 per cent and 6.1 per cent for units.
Canberra was the exception, at 3.1 per cent for houses and 2.8 per cent for units, and Darwin was on the high side at 9.1 per cent for houses.
There were no units sold in Darwin in the week under review.
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