The RP Data May Market Report is out and Australian home values were down -4.5% in the 12-months to end-April, and have fallen -6.1% since peak (see below charts).
Most key metrics have worsened over the past year, including:
Sales volumes:
Average days on market:
Average vendor discounts:
Number of homes for sale:
It’s interesting to note, too, that around 6.5% of homes around the nation are now worth less than their purchase price (likely much more when stamp duty costs are taken into account):
As you can see, the data in this report concludes at the end of February, March or April. Since mid-April, the price slide has resumed with capital city values down some -0.7% so far this month and by -1.4% since end-March 2012:
The ‘slow melt’ continues…
