The RP Data-Rismark daily home values indices for 30 November has just been released, which has allowed me to calculate the change in dwelling values across the five major capital city markets over the month of November.
At the national capital city level, dwelling values declined marginally, falling by -0.05% over the month, with the falls driven entirely by Melbourne, where values fell by -0.96%. It was the second consecutive month of falling dwelling values following October’s -0.91% fall at the five-city level (-1.0% at the eight-city level):
Over the past 12 months, values have fallen by -0,14% nationally, with losses in Melbourne and Adelaide almost fully offset by gains in Sydney, Brisbane and Perth:
Since house prices peaked in October 2010, house prices have declined by -5.5% nationally, with Brisbane and Melbourne leading the falls:
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.
