Home values increased in all but two capital cities last week, with only Sydney and Adelaide recording falls, according to the latest CoreLogic data.
Combined, the daily home value index climbed by 0.1 per cent in the week ending 1 October.
Melbourne was the highest climber at 0.3 per cent, followed by Brisbane and Perth at 0.2 per cent and 0.1 per cent respectively. Both Sydney and Adelaide fell 0.1 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 8.6 per cent for the year. Sydney and Melbourne remained the main drivers at 10.5 per cent and 12.1 per cent, respectively.
Listings fell across most capital cities, with only Sydney, Adelaide and Canberra recording positive returns. Perth and Darwin were the two biggest fallers at -10.8 per cent and -10.1 per cent, respectively.
Houses remained more popular than units, and the average time for houses on market shortened slightly last week, with Canberra, Melbourne and Sydney performing best at 26 days, 28 days and 29 days, respectively.
Perth and Darwin performed the worst at 84 days and 91 days each.
Vendor discounting across most capital cities was between 4.46 per cent and 7.5 per cent for houses, and between 4.2 per cent and 6.6 per cent for units.
Canberra was the low-end exception for both houses and units at 3.3 per cent and 2.8 per cent respectively.
Darwin was the high-end exception for houses at 9.5 per cent and Perth for units at 8.3 per cent.
https://www.mortgagebusiness.com.au / “Home values on the rise again across most capital cities” / Tim Neary