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Home values were up again across Australia’s capital cities, and while listings dropped, so did the average days on market, according to the latest CoreLogic data.
The daily home value index climbed in the week ending 29 January, with Sydney, Melbourne, Brisbane and Perth moving upwards at 0.5 per cent, 0.2 per cent, 0.9 per cent and 1.0 per cent respectively, CoreLogic’s Property Market Indicator data shows.
Only Adelaide’s home values fell this week, by 0.3 per cent.
The monthly index was up as well, this time by 0.7 per cent. It was up 10.8 per cent for the year, with Sydney and Melbourne the main drivers again this week at 15.6 per cent and 12.5 per cent respectively.
All capital cities reported a drop in new listings, including Canberra which was the only city to be in the red last week. At -44 per cent, Darwin was the biggest loser, with Adelaide (-30.5 per cent), Brisbane (-27.5 per cent) and Melbourne (-23.5 per cent) not far behind. Sydney performed the best at just -2.7 per cent.
As they did last week, houses remained more popular than units. The average time on market reduced for houses in all capital cities, with Hobart faring the best at 43 days, followed by Melbourne at 48 days.
Hobart also performed the best for units at 49 days, followed by Sydney at 59 days and Melbourne at 60 days.
Vendor discounting was between 4.2 per cent and 7.9 per cent for houses across most capital cities, and between 4.4 per cent and 5.9 per cent for units.
Canberra on the low end was the exception, at 1.8 per cent for houses and 2.8 per cent for units.
Darwin was the high-side exception for houses at 8.7 per cent and Perth was the high-side exception for units at 8.9 per cent.
There were no units sold in Darwin in the week under review.
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