In the week ended 26 June 2014, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.83%. It was the second consecutive week of rises (see next chart).
The growth nationally was driven by strong rises in Sydney and Melbourne, which more than offset relative weakness elsewhere (see next chart).
Values are now up 0.95% in June, with gains experienced across all major markets except Adelaide (see next chart).
Values are now up by 2.87% so far in 2014, with all major capitals experiencing growth, although growth in Perth has been weak (see next chart):
Over the past 12 months, home values have risen by 10.20% 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, values are beginning to recover after May’s seasonal weakness (see next chart).
Values are now up 6.6% since the 2010 peak at the 5-city level, driven primarily by strong gains in Sydney, with Perth and Melbourne values also up, but Brisbane and Adelaide in negative territory (see next chart).
However, major capital home values have now gained 15.1% since bottoming nationally in May 2012, with all capitals rebounding from their respective troughs (see next chart).
