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Home values were down across most of Australia’s capital cities last week, with only Brisbane recording an increase, according to the latest CoreLogic data.
The daily home value index fell 0.1 per cent in the week ending 2 April.
Sydney, Melbourne, Adelaide and Perth moved down 0.1 per cent, 0.1 per cent, 0.5 per cent and 0.6 per cent respectively. Brisbane moved up by 0.4 per cent, CoreLogic’s Property Market Indicator data shows.
The monthly index was up 0.9 per cent for the week. It rose 13.0 per cent for the year. As they were in the week prior, Sydney and Melbourne are the drivers at 18.6 per cent and 16.6 per cent respectively.
Most capital cities reported increases in listings in the week under review. At 26.6 per cent, Canberra’s growth was the highest again. Hobart, Melbourne and Sydney followed at 23.9 per cent, 12.1 per cent and 17.2 per cent respectively. Brisbane and Darwin were the biggest losers at 6.4 per cent and 4.3 per cent respectively.
Houses remained more popular than units, and the average time for houses on market reduced in most capital cities. Sydney and Canberra fared the best at 26 days each, followed by Melbourne at 28 days.
Sydney performed the best for units at 25 days, followed by Melbourne at 29 days. Hobart and Canberra were not far behind at 33 and 36 average days on market respectively.
Vendor discounting was between 4.0 per cent and 6.9 per cent for houses across most capital cities, and between 4.5 per cent and 6.3 per cent for units.
Canberra was the low-end exception again, for houses at 2.4 per cent and for units at 3.1 per cent.
Perth was the high-side exception for both houses and units, at 7.0 per cent and 7.6 per cent respectively.
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