In the week ended 16 May 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a -0.45% decline, which followed last week’s 0.38% rise. It was the biggest weekly decline in more than year (see next chart).
All capital cities recorded falls over the week, with Sydney fairing the best and Adelaide the worst (see next chart).
Values are up by just 0.11% so far in May at the 5-city level, led by strong gains in Melbourne and Perth, partly offset by falls in the other major capitals (see next chart).
Over the past 12 months, values have risen by 3.61% at the 5-city level, with all major markets except for Adelaide 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 -3.5% since peak at the 5-city level, with all major capitals in negative territory, but with Sydney only slightly under water (see next chart).
However, major capital home values have now gained 4.2% since bottoming in May 2012, with all capitals rebounding (see next chart).
