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Home values hold firm across the country, latest data shows

By Eliot Hastie
24 April 2018 | 5 minute read
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Home values across Australian capital cities remained the same last week, with only Melbourne and Perth experiencing a slight decrease, according to the latest CoreLogic data.

Perth and Melbourne both experienced a -0.1 per cent change in values, with the other cities experiencing no change.

The combined daily home value index remained the same in the week ending 22 April, the latest CoreLogic Property Market Indicator showed.

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Listings also fell for most of the capital cities, with the biggest decline in Hobart at 12.0 per cent, followed by Canberra and Perth at 8.6 per cent and 5.7 per cent, respectively.

Darwin, after weeks of listing decline, has turned around and had the largest increase at 14 per cent, followed by Melbourne at 4.1 per cent and Adelaide at 1.5 per cent.

Houses remained more popular than units, with the median time on market slightly increasing, although Hobart, Canberra and Melbourne yet again were the top performers at 25 days, 29 days and 31 days, respectively.

The worst performers for houses were Brisbane, Darwin and Perth at 61 days, 64 days and 71 days, respectively.

The biggest divide was found in Darwin, with houses being on the market for an average of 64 days while units were almost double the time at 122 days being the median.

Vendor discounting across most capital cities was between 4.2 per cent and 7.3 per cent for houses and between 2.1 per cent and 11.4 per cent for units.

Canberra and Melbourne were the low-end exceptions for houses, at 4.2 per cent and 4.5 per cent, respectively, and Hobart was the low-end exception for units at 2.1 per cent.

Darwin was the high-end exception for units at 11.4 per cent and Perth for houses at 7.3 per cent.

 

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