Latest data shows Aussie house prices are surging back

In his great blog economist Chris Joye displays a chart of RP Data-Rismark’s daily hedonic index for Sydney, Melbourne,and Australia’s eight capital cities which shows house prices rebounding is a remarkable response to the RBA rate cuts in May and June.

These graphs are measuring the figures in raw terms. Joye suggests if we seasonally-adjusted the June and July data, the rebound would look even stronger.There has been a lot of controversy recently about the accuracy of these daily figures, and while the jury is still out about the precision, RPData say their index does not just take into account recent sales, but it reprices 4-5 million homes every single day!

Anyway here’s what the graphs show…

graqp

 


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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'Latest data shows Aussie house prices are surging back' have 2 comments

  1. Avatar for Property Update

    August 3, 2012 mike

    Wow a property investment page says property is bouncing back! It must be true!

    “Never ask a barber if you need a haircut.”

    ― Warren Buffett

    Reply

  2. Avatar for Property Update

    July 25, 2012 Bruce

    Go Melbourne!

    Reply


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