Little movement in home values nationwide, latest data finds

Home values either climbed marginally or held steady in all but one capital city last week, with Perth the only one recording a fall, according to CoreLogic.

CorLogic's daily home value index rose by 0.1 per cent in the week ending 3 September with Sydney and Melbourne climbing by 0.1 per cent and 0.2 per cent, respectively, while Brisbane and Adelaide held firm and Perth fell by 0.2 per cent.

The monthly index was up by 0.1 per cent for the week and rose by 9.6 per cent for the year. Sydney and Melbourne remained the main drivers at 12.7 per cent and 12.5 per cent.

Listings dropped overall, with only Sydney, Melbourne and Darwin remaining in the black. Darwin climbed the most at 13.0 per cent while Perth was the biggest loser, falling by 14.3 per cent.

Houses remained more popular than units, and the average time for houses on market remained steady, with Canberra, Melbourne and Sydney performing best at 26 days, 28 days and 30 days, respectively.

Perth and Darwin performed the worst at 85 days and 72 days each.

Vendor discounting across most capital cities was between 4.0 per cent and 5.9 per cent for houses, and between 4.4 per cent and 7.5 per cent for units.

Canberra was the low-end exception for both houses and units at 3.3 per cent and 3.0 per cent, respectively.

Darwin was the high-end exception for both houses and units at a respective 9.1 per cent and 11.1 per cent.

[Related: National housing conditions hold steady despite Sydney's slowdown]

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Tim Neary

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