CoreLogic’s daily home value index held steady and saw no movement in the week ending 23 June, repeating the performance of the previous week and confirming that the earlier trend of falling values has halted.
Both Melbourne and Sydney recorded small rises in their home value indexes last week. Melbourne recorded the largest rise at 0.2 of a percentage point, followed by Sydney at 0.1 of a percentage point.
The latest Asking Prices Index from SQM Research was more bullish, with most of the capital cities recording weekly increases. It also reported monthly rises in prices for seven of the eight state capitals (Darwin was the only exception).
The average time for houses on market fluctuated slightly, with Sydney, Melbourne, Darwin and Canberra recording improvements, while Adelaide, Perth and Hobart recorded no movement.
Hobart was the capital city with the fastest time on market for houses at 36 days, followed by Melbourne at 43 days and Sydney at 48 days.