Sydney and Perth best-performing major capitals for the year: RP Data weekly index

Sydney and Perth home values have performed the best over the year, according to RP Data's new weekly index. Sydney and Perth home prices are up 3% compared with this time last year, but Melbourne and Adelaide values have both fallen 1.3%.

In addition to its long-running daily home value index, RP Data is now measuring the performance of homes in capital cities each week. Like the daily index, the weekly index is hedonic and is calculated across properties that have been advertised for sale over the past 28 days.

Over the week, Melbourne was the best-performing capital, with home values up 0.5%, according to RP Data. The worst-performing capital was Perth, with a fall of 0.7% in home values.