Home values creep in most capital cities

Perth climbed by 0.2 per cent; all of Melbourne, Brisbane and Adelaide rose by 0.1 per cent; and Sydney fell by 0.2 per cent, CoreLogic’s Property Market Indicator data showed.

The monthly index was up by 0.2 per cent for the week. It rose by 9.1 per cent for the year. Sydney and Melbourne remained the main drivers at 11.6 per cent and 12.2 per cent, respectively.

Listings fell across most capital cities, with only Sydney at 5.0 per cent recording a positive return. Perth and Hobart were the two largest fallers at -13.7 per cent and -11.4 per cent, respectively.

Houses remained more popular than units, and the average time for houses on market held steady last week, with Canberra, Melbourne and Sydney performing best at 25 days, 28 days and 30 days, respectively.

Perth and Darwin performed the worst at 90 days and 93 days each.

Vendor discounting across most capital cities was between 4.6 per cent and 7.7 per cent for houses, and between 4.3 per cent and 6.6 per cent for units.

Melbourne was the low-end exception for houses at 3.9 per cent and Canberra was the same for units at 2.9 per cent.

Darwin was the high-end exception for houses at 8.8 per cent and Perth for units, also at 8.8 per cent.