In the week ended 7 March 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a huge 0.67% increase, which followed last week’s 0.31% increase. This week’s rise was the strongest in well over a year (see next chart).
Value gains were driven by Melbourne, Brisbane and Perth, with only Adelaide recording losses (see next chart).
Over the past 12 months, values have risen by 1.73% at the 5-city level, with all major markets, except Melbourne and Adelaide, experiencing value increases (see next chart).
The next chart plots the daily movements on a 14-day moving average, in order to smooth volatility. As you can see, Sydney, Perth and Brisbane values are in an uptrend. By contrast, Adelaide and Melbourne look to be trending sideways (see next chart).
Values are now down -3.8% since peak at the 5-city level, with Sydney almost recovering all of its lost ground, and Brisbane and Melbourne suffering the greatest losses (see next chart).
However, values have now gained just over half their losses since bottoming in May 2012, with all capitals experiencing a solid rebound (see next chart).