RP Data weekly Australian house price update

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In the week ended 19 May 2016, the Core Logic-RP Data 5-city daily dwelling price index, which covers the five major capital city markets rose by another 0.18%:

ScreenHunter_13060 May. 19 13.57

Values rose strongly in Sydney but fell elsewhere:

ScreenHunter_13057 May. 19 13.54

So far in May, home values have surged by 1.69%, driven by Sydney and Melbourne:

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ScreenHunter_13053 May. 19 13.52

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.