Home values maintain upward trend: CoreLogic data

Brisbane fell by 0.1 per cent, while all of Sydney, Melbourne, Adelaide and Perth grew by 0.2 per cent, 0.4 per cent, 0.5 per cent and 0.4 per cent, respectively, CoreLogic’s Property Market Indicator data shows.

The monthly index was up by 0.2 per cent for the week. It rose by 10.8 per cent for the year. Sydney and Melbourne remain the main drivers at 12.2 per cent and 16.5 per cent.

Listings dropped across most capital cities for the week, with only Sydney and Melbourne remaining in the black. Sydney climbed by 8 per cent, but Brisbane and Perth fell substantially by 8.7 per cent and 13.1 per cent, respectively.

Houses remained more popular than units, and the average time for houses on market continued in its marginal rise in most capital cities. Canberra and Melbourne fared best at 28 and 29 days each, but Brisbane, Adelaide and Perth all pulled the average skywards at 62 days, 62 days and 83 days, respectively.

Vendor discounting was between 4.87 per cent and 7.8 per cent for houses across most capital cities, and between 4.2 per cent and 7.3 per cent for units.

Canberra was the low-end exception for both houses and units, at 3.3 per cent and 3.5 per cent, respectively.

Darwin was the high-end exception for houses at 10.8 per cent, while Perth was the high-end exception for units at 9.7 per cent.