Powered by MOMENTUM MEDIA
the adviser logo
Growth

Home values climb across most capital cities

by James Mitchell5 minute read
Home values climb

Home values climbed in all but one of Australia’s capital cities last week, with Perth flatlining week-on-week rather than decreasing, according to the latest CoreLogic data.

Combined, the daily home value index grew 0.6 per cent in the week ending 18 June.

To continue reading the rest of this article, create a free account
Already have an account? Sign in

At 0.9 per cent Sydney’s rise was the biggest, with Melbourne close behind at 0.7 per cent. Brisbane and Adelaide both grew at just 0.1 per cent, CoreLogic’s Property Market Indicator data shows.

The monthly index was up 0.6 per cent for the week. It rose 9.1 per cent for the year. Sydney and Melbourne were the drivers at 11.5 per cent and 12.1 per cent respectively.

Advertisement
Advertisement

Listings were divided across most of Australia’s capital cities last week. At 7.6 per cent, Canberra remained the highest mover. It was joined by Sydney and Melbourne at 5.1 per cent and 5.0 per cent respectively. Perth, Brisbane, Hobart and Adelaide all ended the week in negative territory again at -17.5 per cent, -6.8 per cent, -1.2 per cent and -7.4 per cent respectively.

Houses remained more popular than units and the average time for houses on market remained largely steady in most capital cities. Sydney fared the best at 27 days each, followed by Canberra at 28 days and Melbourne at 29 days each.

Sydney performed the best for units at 28 days, followed by Melbourne at 30 days.

Vendor discounting was between 4.1 per cent and 5.1 per cent for houses across most capital cities, and between 4.1 per cent and 6.0 per cent for units.

Canberra was the low-end exception again, at 3.3 per cent for houses and 3.1 per cent for units.

Darwin was the high-side exception, at 9.1 per cent for houses and 11.8 per cent for units.

Home values climb across most capital cities
arrow up
TheAdviser logo
arrow up

James Mitchell

James Mitchell

AUTHOR

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

Glen Lees

Connective announces record settlement figures

Mortgage aggregator Connective has revealed that its brokers settled a record $95.5 billion across its residential,...

READ MORE
charles grover outfund ta zgvq5o

New SME lender launches into broker channel

A new fintech lender, Outfund, is ramping up for growth through the broker channel after having completed a capital...

READ MORE
david bailey afg ta l8ozkr

AFG’s bottom line hit by Volt closure

The ASX-listed company, Australian Finance Group Ltd (ASX: AFG) has confirmed it is set to deliver “strong...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more