RP Data just released their latest weekly trends data. First the data shows a weekly fall overall in capital city house prices, with Sydney and Adelaide the only centres showing an uplift. Sydney prices continue their run ahead of other states.
Median house and unit prices are highest in Sydney, with Perth, Darwin and Canberra ahead of Melbourne. The statistics are calculated across houses and units sold over the most recent four week period.
‘Time on market’ is simply the average number of days between when a property is first listed for sale and the contract date. The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.
Finally, RP Data monitors more than 100,000 mortgage activity events every month across their industry platforms. Monitoring the activity events across this platform provides a unique and timely lead indicator to housing finance commitments. We continue to see a cooling in mortgage demand in every state other than Victoria.
