Capital city house prices fall in May: RP Data

By a staff reporter

The value of houses across Australia’s capital cities fell in May on the back of lower consumer confidence, according to RP Data-Rismark.

The RP Data-Rismark index dropped for the second consecutive month, falling 1.2 per cent in May after edging 0.5 per cent lower in April.

These results followed a 2.8 per cent increase over the first quarter of this calendar year.

The worst performing capital city in the index was Melbourne, which fell 1.9 per cent for the month.

Perth’s housing market performed the strongest, growing 1.9 per cent.