In the week ended 6 June 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a large -0.22% decline, which followed last week’s -0.49% fall. It was the fourth weekly decline in a row (see next chart).
Results were mixed, with falls in Sydney, Melbourne and Brisbane partly offset by rises in Perth and Adelaide (see next chart).
Since the end of last year, home values have risen by 0.82% at the 5-city level, with all markets except Melbourne experiencing gains (see next chart).
Over the past 12 months, values have risen by 2.58% 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, the uptrend that had been apparent across most capitals continues to stall (Perth excluded) and some toppish formations have taken hold (see next chart).
Values are down -4.7% since peak at the 5-city level, with all major capitals in negative territory (see next chart).
However, major capital home values have now gained 2.7% since bottoming in May 2012, with all capitals rebounding (see next chart).
