It’s been another poor week for the Australian housing market, with the RP Data-Rismark daily home price index recording a -0.24% decline in national capital city home values in the week ending 29 May 2012.
Falls were experienced in Melbourne (-0.94%), Perth (-0.92%) and Adelaide (-0.28%), but Sydney (+0.41%) and Brisbane (+0.19%) bucked the trend:
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Australian capital city home values are now down -1.41% so far in May, led by Melbourne (-2.47%) and Perth (-2.03%):
I’ll be back tomorrow with a more detailed post for covering the month-end results, but given the large falls experienced to date, it looks like May will go down as a poor month.
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