RP Data weekly Australian house price update

ScreenHunter_07 Mar. 20 20.55

By Leith van Onselen

In the week ended 10 April 2014, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.19%. It was the sixth consecutive weekly rise in values (see next chart).

ScreenHunter_2023 Apr. 10 17.08

Values rose in two major capitals and fell in three (see next chart).

ScreenHunter_2024 Apr. 10 17.09

Values are up 0.17% so far in April, driven by big gains in Sydney and solid gains in Brisbane, which have outweighed falls in the other major capitals:

ScreenHunter_2025 Apr. 10 17.10

Values are up 3.73% so far in 2014, driven by big gains in Sydney and Melbourne, with Perth values falling:

ScreenHunter_2026 Apr. 10 17.12

Over the past 12 months, home values have risen by 10.99% at the 5-city level, again led by Sydney and Melbourne (see next chart).

ScreenHunter_2027 Apr. 10 17.13

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 by strong gains in Sydney (see next chart).

ScreenHunter_2028 Apr. 10 17.14

Values are up 7.5% 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).

ScreenHunter_2029 Apr. 10 17.15

However, major capital home values have now gained 16.1% since bottoming nationally in May 2012, with all capitals rebounding from their respective troughs (see next chart).

ScreenHunter_2030 Apr. 10 17.16

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  1. Gain over 10 years shows that Sydney has grown quite slowly even with the latest rises.

    The 10 year growth charts favour places like Perth and Darwin, not Sydney.