In the week ended 21 February 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a 0.01% increase, which followed las week’s 0.16% increase (see next chart).
Value gains were driven by Melbourne and Brisbane, which more than offset falls in the other major capitals (see next chart).
Price are down -0.06% so far in February, with losses in Perth, Adelaide and Brisbane more than offsetting gains in Sydney and Melbourne: (see next chart).
However, over the past 12 months, values have risen by 1.12% at the 5-city level, with all major markets, except Melbourne and Adelaide, experiencing price rises (see next chart).
The next chart plots the daily movements on a 14-day moving average, in order to smooth volatility. As you can see, Sydney and Perth values are in an uptrend, and Brisbane looks like it is in the process of breaking-out. By contrast, Adelaide and Melbourne look to be trending sideways (see next chart).
Values are now down -4.7% since peak at the 5-city level, with Sydney almost recovering all of its lost ground, and Brisbane and Melbourne suffering the greatest losses (see next chart).
However, values have gained significant ground since bottoming in May 2012, with all capitals experiencing a solid rebound (see next chart).
