In the week ended 14 March 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a big 0.47% increase, which followed last week’s huge 0.67% increase. It was also the fifth weekly rise in a row (see next chart).
Value gains were broad-based, with only Adelaide recording losses (see next chart).
Values are up by 1.15% so far in March, again with all capitals except Adelaide recording rises (see next chart).
Over the past 12 months, values have risen by 2.29% 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, all major capitals except Adelaide are in an uptrend (see next chart).
Values are now down -3.3% 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, major capital home values have now gained 4.4% since bottoming in May 2012, with all capitals experiencing a solid rebound (see next chart).