RP Data: House prices fell in October

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By Leith van Onselen

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:

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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:

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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.

Twitter: Leith van Onselen. Leith is the Chief Economist of Macro Investor, Australia’s independent investment newsletter covering trades, stocks, property and yield. Click for a free 21 day trial.

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.