In the week ended 12 February 2015, the Core Logic-RP Data 5-city daily dwelling price index, which covers the five major capital city markets, was essentially flat (+0.01%):
Home prices rose in rose in Sydney and Melbourne, but fell in the other major capitals (see next chart).
So far in February, home values nationally have risen by 0.16%, with only Sydney and Melbourne rising (see next chart).
Since the beginning of the year, home values have risen strongly in Sydney and Melbourne, risen moderately in Brisbane, but fallen in Perth and Adelaide (see next chart).
However, over the past 12 months, home values have risen by 8.39% at the 5-city level, with all capitals rising in value (see next chart).
The next chart plots the daily movements on a 14-day moving average, in order to smooth volatility. Sydney continues to lead the way, and has gotten a second wind, driving growth nationally (see next chart).
Values are now up 13.7% since the 2010 peak at the 5-city level, driven overwhelmingly by strong gains in Sydney, with Perth, Melbourne and Adelaide’s values also up, but Brisbane’s still in negative territory (see next chart).
However, major capital home values have now gained 22.8% since bottoming nationally in May 2012, with all capitals rebounding from their respective troughs (see next chart).