Values hold steady in most capital cities last week

Sydney fell by 0.4 per cent and Melbourne fell by 0.1 per cent, CoreLogic’s Property Market Indicator data showed.

The monthly index fell by 0.3 per cent for the week. It rose by 3.6 per cent for the year. Melbourne remained the prime mover at 8.4 per cent, with Sydney, Brisbane and Adelaide contributing 1.9 per cent, 2.3 per cent and 2.6 per cent, respectively.

Listings fell last week across most capital cities, led by Hobart at -12.7 per cent, Brisbane at -8.8 per cent and Adelaide at -8.8 per cent. Darwin experienced the only gain at 2.1 per cent.

Houses remained more popular than units, and the average time for houses on market rose last week, with Hobart and Melbourne performing best at 36 and 42 days, respectively.

The worst performers were Perth at 74 days, and Brisbane and Darwin at both 66 days.

Vendor discounting across most capital cities was between 3.1 per cent and 6.0 per cent for houses, and between 4.0 per cent and 6.5 per cent for units.

Canberra was the low-end exception for houses at 2.7 per cent and Hobart for units at 3.0 per cent.

Darwin was the high-end exception for houses at 10.2 per cent and Perth for units at 9.5 per cent.