RP Data: Home values rocket 2.8% in July

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By Leith van Onselen

RP Data’s price results are in for July, with the Sydney/Melbourne bubbles blowing-off in a big way as the daily index recorded a 2.80% jump in values over the month at the 5-city level, with all major capitals except Adelaide recording gains (see next chart).

ScreenHunter_8579 Jul. 31 09.55

The strong recovery in home values after the usual May seasonal decline continues, with values also up by 4.05% over the quarter at the 5-city level, driven by Melbourne’s whopping 6.11% quarterly rise and Sydney’s 5.39% surge (see next chart).

ScreenHunter_8578 Jul. 31 09.54
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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.