RP Data: Home prices rose in August

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ScreenHunter_07 Mar. 20 20.55

By Leith van Onselen

RP Data’s price results are in for August, with the daily index recording a 0.49% rise over the month at the 5-city level, with values rising in all major capitals except Perth (see next chart).

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It was the third consecutive monthly increase in values, with values also up by 3.99% over the quarter (see next chart).

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ScreenHunter_02 Sep. 02 07.15

Home values have now increased by 5.06% since the start of the year at the 5-city level and by 5.4% over the past 12 months, driven by strong growth in Sydney and Perth (see below charts).

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Values are now down 0.9% from their October 2010 peak at the 5-city level, with all major capitals except Sydney still underwater (see next chart).

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However, values have gained 7.0% since their May 2012 trough, with all capital rebounding from their respective lows (see next chart).

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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.