Stabilisation in value and listings across all but one capital city
Aside from Sydney, home values in the major capital cities saw a positive outlook, either holding steady or rising, the latest CoreLogic data showed.
The combined daily home value index fell by 0.1 per cent in the week ending 8 April.
Adelaide and Perth both rose by 0.1 per cent, Melbourne and Brisbane held steady and Sydney fell 0.1 per cent, the latest CoreLogic Property Market Indicator showed.
Listings also fell in all capital cities save one, Melbourne. The biggest decline was in Darwin at 13.3 per cent, followed by Adelaide and Hobart at 12.2 per cent and 11.0 per cent, respectively.
Melbourne’s listings activity rose by 0.4 per cent.
Houses remained more popular than units, with the median time on market pushing out overall, although Hobart, Canberra and Melbourne have continued to lead the way at 23 days, 27 days and 29 days, respectively.
The worst performers for houses were Brisbane, Perth and Darwin at 60 days, 76 days and 51 days, respectively.
Vendor discounting across most capital cities was between 5.1 per cent and 7.5 per cent for houses and between 5.0 per cent and 6.1 per cent for units.
Canberra was the low-end exception for houses and, along with Melbourne, for units at 4.0 per cent and 4.3 per cent, respectively.
Darwin was the high-end exception for houses at 8.1 per cent and Perth for units at 9.0 per cent.
More from this writer:
-
The top 6 winter risks investors face, and how to navigate them
-
Investors record mortgage wins, non-major lenders surge in popularity
-
Gearing change may create investing ‘reversal’
-
Mix of ups and downs in property market last week
-
House prices more attainable across most capital cities over 2018’s final quarter
-
Unpopular capital city set for strong 2019
-
Investor appetite for borrowing slows, new data shows