RP Data’s daily house price index for 28 February 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 rose marginally (+0.03%) in February, driven entirely by 0.77% growth in Australia’s biggest market, Sydney, with the other major capitals losing value:
It was the ninth consecutive month of capital appreciation, albeit growth does appear to be moderating:
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.
I will also release a Member’s Report early next week providing a detailed examination of the Australian housing market and the outlook for the future.
