In the week ended 30 May 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a large -0.49% decline, which followed last week’s -0.75% fall. It was the third weekly decline in a row (see next chart).
Results were mixed, with falls in Sydney, Melbourne and Brisbane partly offset by rises in Perth and Adelaide (see next chart).
Values are down -1.13% so far in May at the 5-city level, with all capitals except Perth experiencing significant declines (see next chart).
Over the past 12 months, values have risen by 2.91% at the 5-city level, with all major markets except for Adelaide experiencing 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, the uptrend that has been apparent across most capitals has slowed significantly and some toppish formations have taken hold (see next chart).
Values are down -4.7% since peak at the 5-city level, with all major capitals in negative territory (see next chart).
However, major capital home values have now gained 2.9% since bottoming in May 2012, with all capitals rebounding (see next chart).
Tomorrow, the month-end results at the 5-city level will be available, with data on the smaller capitals to be released later on.
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