Values under pressure for most capital cities, latest data finds
Value is under pressure in most of Australia’s capital cities as the cooling tide continues to come in, according to the latest data from CoreLogic.
Sydney and Melbourne both fell 0.2 per cent, Perth lost 0.1 per cent of its value, while both Brisbane and Adelaide held steady, according to the CoreLogic Property Market Indicator Summary for the week ending 9 September 2018.
The combined weekly home value index fell 0.1 per cent.
Listings declined again across most capital cities, with only Hobart and Canberra reversing the trend. Hobart grew 2.7 per cent and Canberra was up 4.4 per cent.
Houses remained more popular than units, with the average time on market for the most part holding firm across the capital cities. Canberra, Hobart and Melbourne performed the best for houses at 28 days, 31 days and 33 days, respectively.
For units, Hobart, Melbourne and Sydney led the pack for quickest days on market at 31 days, 31 days and 42 days, respectively.
Vendor discounting across most capital cities was between 4.7 per cent and 5.8 per cent for houses, and between 5.1 per cent and 7.6 per cent for units.
Canberra was the low-end exception for houses and units at 2.6 per cent and 2.9 per cent, respectively.
Perth was the high-end exception for houses at 8.0 per cent, while Darwin was the high-end exception for units at 12.1 per cent.
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