RP Data’s daily house price index for 31 January has been released, which has enabled me to calculate monthly price growth for the five major capital city markets.
As shown below, home values at the 5-city level rose by 1.20% in January, driven by strong 3.25% growth in Melbourne:
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It was the eighth consecutive month of capital appreciation:
Prices at the 5-city level are now 4.9% above their 2010 peak in nominal terms, with Sydney, Melbourne and Perth in positive territory, and Brisbane and Adelaide still below their former highs:
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RP Data will release their full results, covering all eight capital city markets, on Monday.
