RP Data yesterday released its daily home values indices for 31 October, which revealed that dwelling values in Australia’s five major capitals fell by -0.91% over the month of October, partly reversing September’s 1.52% gain. All capitals, except Perth, experienced value losses, with Adelaide and Melbourne fairing the worst:
Capital city home values are now down -0.17% since the beginning of the year, with all major capitals, except Sydney, experiencing losses:
Australian capital city home values have now declined by -5.4% since values peaked in October 2010, with all capitals experiencing losses. Losses have been particularly high in Brisbane and Melbourne, whereas Sydney has held-up relatively well and improved the national average:
The ABS on Tuesday is scheduled to release the official house price indices for the September quarter, which completes the run of house price data.