Weekly RP Data house price update

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ScreenHunter_03 Apr. 02 11.00

By Leith van Onselen

In the week ended 25 April 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a -0.34% fall, which followed last week’s 0.20% decline (see next chart).

ScreenHunter_01 Apr. 25 15.22

All major capitals, except Adelaide, recorded declines (see next chart).

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ScreenHunter_02 Apr. 25 15.24

Values are down -0.56% so far in April, again with all capitals, except Adelaide, experiencing losses (see next chart).

ScreenHunter_03 Apr. 25 15.26
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Over the past 12 months, values have risen by 2.41% at the 5-city level, with all major markets experiencing increases (see next chart).

ScreenHunter_04 Apr. 25 15.27

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).

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ScreenHunter_05 Apr. 25 15.28

Values are down -3.7% since peak at the 5-city level, with all major capitals in negative territory, but with Sydney only marginally under water (see next chart).

ScreenHunter_06 Apr. 25 15.29
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However, major capital home values have now gained 4.0% since bottoming in May 2012, with all capitals rebounding (see next chart).

ScreenHunter_07 Apr. 25 15.31

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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.