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Home values rose in most of Australia’s capital cities last week, with only Sydney recording a surprise decrease, according to the latest CoreLogic data.
The daily home value index climbed 0.3 per cent in the week ending 16 April.
Melbourne, Adelaide, Perth and Brisbane rose 0.7 per cent, 1.2 per cent, 0.5 per cent and 0.2 per cent respectively, while Sydney fell 0.1 per cent, CoreLogic’s Property Market Indicator data shows.
The monthly index was up 0.4 per cent for the week. It rose 12.2 per cent for the year. As they were in the week prior, Sydney and Melbourne are the drivers at 17.1 per cent and 16.2 per cent respectively.
Most capital cities reported increases in listings. At 13.8 per cent, Hobart’s growth was the highest. Sydney and Canberra followed at 4.3 per cent and 2.8 per cent respectively.
Darwin and Melbourne were the biggest losers at 28.0 per cent and 3.6 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 26 days, followed by Melbourne at 29 days. Hobart wasn’t far behind at 34 average days on market.
Vendor discounting was between 3.8 per cent and 5.4 per cent for houses across most capital cities, and between 4.0 per cent and 5.4 per cent for units.
Canberra was the low-end exception again, with houses at 2.6 per cent and units at 2.6 per cent.
Perth was the high-side exception for houses at 6.9 per cent, while Darwin was the same for units at 14.7 per cent.
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