In the week ended 2 May 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a 0.26% increase, which followed two consecutive weeks of falls (see next chart).
All major capitals, except Adelaide, recorded gains (see next chart).
While it’s early days, May has opened strongly with values rising by 0.18% over the first two days at the 5-city level (see next chart).
Over the past 12 months, values have risen by 2.93% at the 5-city level, with all major markets experiencing 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 -3.4% since peak at the 5-city level, with all major capitals in negative territory, but with Sydney only marginally under water (see next chart).
However, major capital home values have now gained 4.3% since bottoming in May 2012, with all capitals rebounding (see next chart).
