In Melbourne, Adelaide and Perth they fell by 0.2%, with Brisbane the relative outperformer with a decline of only 0.1% reported

Of the mainland state capitals, prices in Melbourne grew by 7.7% over the year, outpacing gains of 2.4% and 2.1% in Adelaide and Brisbane respectively.

Perth, as has been the case for some time now, saw prices drop by 2.7% over the year.

Reflecting recent price movements across the capitals, the amount of housing stock up for sale continued to increase, rising by 1.1% to 100,659 from the same week a year earlier.

In Sydney, there were 23,365 residential properties up for sale, up 21.3% on one year earlier. In Melbourne and Canberra, where price growth is also slowing, total stock up for sale increased by a smaller 2.2% and 7.4% respectively.

Outside of the southeastern mainland capitals, the amount of stock up for sale decreased in all other cities, led by a sizeable decline in Hobart which fell by 38.4%.

Sydney, Australia’s largest and most expensive housing market where prices are now going backwards, it took an average of 42 days to sell, up sharply from 34 days in December 2016.

While not to the same degree, the average Melbourne sale time also lengthened, rising to 33 days from 29 days 12 months earlier.

The increase suggests these once-hot markets have cooled over the past year, significantly in the case of Sydney.

CoreLogic said it was reasonable to expect that the number of days it takes to sell a property nationally will trend higher over the year, especially in the southeastern capitals.

 

 

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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