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Home values maintained their downward shift again this week in all but one capital city, with Adelaide the only one to hold firm, according to the latest CoreLogic data.
Combined, the daily home value index fell by 0.3 of a percentage point in the week ending 18 November.
Sydney fell by 0.5 of a percentage point, while both Melbourne and Perth fell by 0.2 of a percentage point, and Brisbane fell by 0.1 of a percentage point, CoreLogic’s Property Market Indicator data shows.
The monthly index was down by 0.6 of a percentage point for the week. It fell by 4.7 per cent for the year. Sydney, Melbourne and Perth were the main drivers with falls of 6.6 per cent, 5.0 per cent and 3.6 per cent.
Listings climbed across most capital cities for the week, with only Sydney and Melbourne remaining in the red. Sydney fell by 9.3 per cent, but Hobart and (especially) Darwin grew substantially by 11.4 per cent and 38.3 per cent, respectively.
Houses remained more popular than units, and the average time for houses on market continued to rise in most capital cities. Canberra, Hobart and Melbourne fared best at 29, 29 and 33 days each, but Brisbane, Perth and Darwin all pushed the average out at 64 and 74 days each, respectively.
Vendor discounting was between 4.7 per cent and 5.8 per cent for houses across most capital cities, and between 4.0 per cent and 7.1 per cent for units.
Canberra was the low-end exception for both houses and units, at 3.1 per cent and 3.0 per cent, respectively.
Perth was the high-end exception for houses at 8.0 per cent, while Darwin was the high-end exception for units at 14.6 per cent.
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