Values slip across majority of capital cities week on week

The largest declines were recorded in Melbourne at 0.2 of a percentage point, with Sydney, Adelaide and Perth following at 0.1 of a percentage point. Brisbane remained unchanged week on week.

The combined monthly change across the five major capitals was -0.6 of a percentage point.

Listings grew week on week across the capital cities, with Brisbane, Hobart, Canberra and Darwin all recording increases week on week. Canberra and Darwin performed best at 17.7 per cent and 13.8 per cent, respectively.

Adelaide and Perth performed the worst with declines in listings of 10.9 per cent and 9.7 per cent, respectively.

Houses remained more popular than units, with the average time on market falling slightly across the capital cities. Canberra, Hobart and Melbourne performed the best for houses as these capital cities remained steady from last week at 26 days, 31 days and 32 days, respectively.

For units, Hobart, Melbourne and Sydney were on top for best days on market once again at 27 days, 31 days and 42 days, respectively.

Vendor discounting across most capital cities was between 4.6 per cent and 5.8  per cent for houses, and between 5.6 per cent and 6.5 per cent for units.

Canberra was the low-end exception for houses and units at 2.3 per cent and 2.8 per cent, respectively.

Perth was the high-end exception for houses at 8.1 per cent while Darwin was the high-end exception for units at 11 per cent.