In the week ended 20 March 2014, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.42%. It was the third consecutive weekly rise in values (see next chart).
Values rose in all major capitals, except Perth (see next chart).
Values are up 1.97% so far in March, with all capitals, except Perth, experiencing strong rises:
Values are up 3.23% so far in 2014, driven by big gains in Melbourne and Sydney, with Perth values falling:
Over the past 12 months, home values have risen by 10.66% at the 5-city level, again led by Sydney and Melbourne (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 continues, driven once again by strong gains in Sydney and Melbourne (see next chart).
Values are up 7.0% since the 2010 peak at the 5-city level, driven primarily by strong gains in Sydney, with Perth and Melbourne values also up but the other major markets still in negative territory (see next chart).
However, major capital home values have now gained 15.5% since bottoming nationally in May 2012, with all capitals rebounding from their respective troughs (see next chart).
unconventionaleconomist@hotmail.com
