RP Data: Melbourne leads house price surge

Friday 31 January 2014

RP Data’s daily house price index for 31 January has been released, which has enabled me to calculate monthly price growth for the five major capital city markets.

As shown below, home values at the 5-city level rose by 1.20% in January, driven by strong 3.25% growth in Melbourne:

It was the eighth consecutive month of capital appreciation:

Prices at the 5-city level are now 4.9% above their 2010 peak in nominal terms, with Sydney, Melbourne and Perth in positive territory, and Brisbane and Adelaide still below their former highs:

RP Data will release their full results, covering all eight capital city markets, on Monday.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.