RP Data weekly Australian house price update

By Leith van Onselen

In the week ended 19 February 2015, the Core Logic-RP Data 5-city daily dwelling price index, which covers the five major capital city markets, fell 0.06% (see next chart).

ScreenHunter_6155 Feb. 19 14.31

Home prices rose in rose in Sydney and Adelaide, were flat in Melbourne, but fell in Brisbane and Perth (see next chart).

ScreenHunter_6156 Feb. 19 14.38

So far in February, home values nationally have risen by 0.10%, with values in Sydney, Melbourne and Adelaide rising and Brisbane and Perth falling (see next chart).

ScreenHunter_6157 Feb. 19 14.39

Since the beginning of the year, home values have risen strongly in Sydney and Melbourne, but fallen elsewhere (see next chart).

ScreenHunter_6158 Feb. 19 14.40

However, over the past 12 months, home values have risen by 8.11% at the 5-city level, with all capitals rising in value (see next chart).

ScreenHunter_6159 Feb. 19 14.45

The next chart plots the daily movements on a 14-day moving average, in order to smooth volatility. Sydney is looking bubblicious, driving growth nationally (see next chart).

ScreenHunter_6160 Feb. 19 14.46

Values are now up 13.6% since the 2010 peak at the 5-city level, driven overwhelmingly by strong gains in Sydney, with Perth, Melbourne and Adelaide’s values also up, but Brisbane’s still in negative territory (see next chart).

ScreenHunter_6161 Feb. 19 14.48

However, major capital home values have now gained 22.7% since bottoming nationally in May 2012, with all capitals rebounding from their respective troughs (see next chart).

ScreenHunter_6162 Feb. 19 15.23

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