Weekly Market Update:
31st August 2011

Earlier today, RP Data - Rismark released their home value index for July 011

Here's a summary of the median house price data:

Status	July 2011 (Latest Released)	Change - Previous Month	Change- Year to Date	Change- Year on Year	Steve McKnight Comment
Sydney	$561,625	0.0%	-1.5%	0.5%	Holding up and showing signs of resilience
Melbourne	$501,500	-1.6%	-6.2%	-5.0%	Correcting back to trend but still in decline
Brisbane	$440,000	-0.6%	-5.6%	-7.0%	Rate of decline easing up. Possible bottom?
Perth	$470,000	-1.3%	-4.9%	-7.1%	Still struggling for momentum
Adelaide	$395,000	-1.0%	-3.2%	-3.9%	Soft market but not a major correction
Canberra	$549,000	4.0%	3.7%	3.8%	Stellar performer... but will it hold?
Hobart	$340,000	-1.3%*	-5.9%*	-5.1%*	Economy in decline and prices following
Darwin	$429,500	-0.4%	-0.1%	-3.0%	Seems like a comparably soft landing
Australia - Capitals	$561,625	0.0%	-1.5%	0.5%	Will the spring buying season break the malaise?