The ABS publishes its house price index data today. My leading indicator for this is the Mortgage Accelerator, and it implies another increase in prices—and the first sign of rising real prices on an annual basis since early 2011. But there’s also a turnaround developing in mortgage acceleration which implies that the rate of increase will top out at a much lower level than the 2008 and 2010 booms.
I’d like to post a figure here, but as usual there are hassles with the ISP! Check on Twitter for the graphic.
Figure 1: Before the release of ABS data on May 7 2013