In the week ended 14 February 2013, the RP Data-Rismark 5-city daily dwelling price index, which covers the five major capital city markets, recorded a 0.16% increase, which followed two consecutive week of falls (see next chart).
Value gains were driven by Sydney, Melbourne and Adelaide, which more than offset falls in Brisbane and Perth (see next chart).
Price are down -0.07% so far in February, with all capitals except Sydney experiencing value declines (see next chart).
However, over the past 12 months, values have risen by 1.33% at the 5-city level, with all major markets, except Melbourne, experiencing price rises (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, Sydney and Perth values are in an uptrend, and Brisbane looks like it is in the process of breaking-out. By contrast, Adelaide values look to be trending sideways, whereas, Melbourne’s remain in a tentative downtrend (see next chart).
Values are now down -4.7% since peak at the 5-city level, with Sydney almost recovering all of its lost ground, and Brisbane and Melbourne suffering the greatest losses (see next chart).
