In the week ended 21 March 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a 0.04% increase, which followed last week’s big 0.47% increase. It was also the sixth straight weekly rise (see next chart).
Value gains were driven by Perth, which offset falls in three of the other major capitals (see next chart).
Values are up by 1.18% so far in March, with all capitals except Adelaide recording rises (see next chart).
Over the past 12 months, values have risen by 2.36% at the 5-city level, with all major markets experiencing value increases (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, all major capitals except Adelaide are in an uptrend (see next chart).
Values are down -3.3% since peak at the 5-city level, with Sydney almost recovering all of its lost ground, and Brisbane and Adelaide suffering the greatest losses (see next chart).
However, major capital home values have now gained 4.5% since bottoming in May 2012, with all capitals experiencing a solid rebound (see next chart).