In the week ended 8 May 2014, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.02%. It was the first weekly rise in values in three weeks (see next chart).
Values rose in two major capitals and fell in three (see next chart).
Values are up 0.10% so far in May, with values rising in three major capitals and falling in two (see next chart).
Values are now up 3.99% so far in 2014, driven by big gains in Sydney, Melbourne and Adelaide:
Over the past 12 months, home values have risen by 11.17% at the 5-city level, 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 by exceptionally strong gains in Sydney (see next chart).
Values are up 7.8% since the 2010 peak at the 5-city level, driven primarily by strong gains in Sydney, with Perth, Melbourne and Adelaide values also up but Brisbane still in negative territory (see next chart).
However, major capital home values have now gained 16.4% since bottoming nationally in May 2012, with all capitals rebounding from their respective troughs (see next chart).
