In the week to January 18, there was only a slight change to home values across the combined capital cities, with a 0.1% increase recorded by research house, RP Data. For the few weeks of the year to date, home values are up just 0.3% and there has been an annual lift of 7.9%.
Capital city home value changes
Luxury living
Of the top 10 luxury properties sold in the week to January 18, six properties were located within NSW.
Taking out first place was a six-bedroom house in Blakehurst, NSW, which went for a sizable $2.38 million. In second place was a five-bedroom house at Sunshine Beach, Queensland, which sold for $2.35 million.
RP Data.com – No 1. Sale in week to January 18 – Blakehurst, NSW
RP Data.com – No.2. Sale in week to January 18 – Sunshine Beach, QLD
But, if you’d like a more realistic picture of what houses are sold for across the combined capitals, according to RP Data, the median price was $548,716 for those sold at private treaty. (Private treaty sales represent around 85% of all dwelling sales across the country.) Sydney continues to lead the pack, with the median house price sitting at $735,000, while Melbourne stands at $492,000.
Capital city private treaty median prices
Are buyers hungry?
The average time on market for houses sold in Sydney is 34 days, with an average vendor discount of 4.2%. Sydney units were also snapped up in just 37 days on average. Melbourne houses sold in just 46 days on average, with an average vendor discount of 5.1%. Vendor discounting is the average percentage difference between the first listing price and the final selling price.
Capital city average time on market and vendor discounting results
Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.
