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DECEMBER KEY FIGURES

	Sep Qtr 14 to Dec Qtr 14	Dec Qtr 13 to Dec Qtr 14
RESIDENTIAL PROPERTY PRICES	% change	% change
Weighted average of eight capital cities	1.9	6.8
Sydney	3.4	12.2
Melbourne	1.3	4.5
Brisbane	1.4	5.3
Adelaide	0.8	2.5
Perth	0.3	1.2
Hobart	1.0	2.2
Darwin	-0.6	0.8
Canberra	0.2	1.7

Total value of the dwelling stock	Dec Qtr 14
Value of dwelling stock(a) ($m)	5 399 951.8
Mean price of residential dwellings ($'000)	571.5
Number of residential dwellings ('000)	9 448.3
(a) all sectors

Residential Property Prices, Weighted average of eight capital cities - Quarterly % change

Residential Property Prices, Quarterly % Change - December quarter 2014

• Preliminary estimates show that the price index for residential properties for the weighted average of the eight capital cities rose 1.9% in the December quarter 2014. The index rose 6.8% through the year to the December quarter 2014.
• The capital city residential property price indexes rose in Sydney (+3.4%), Melbourne (+1.3%), Brisbane (+1.4%), Adelaide (+0.8%), Perth (+0.3%), Hobart (+1.0%) and Canberra (+0.2%) and fell in Darwin (-0.6%).
• Annually, residential property prices rose in Sydney (+12.2%), Brisbane (+5.3%), Melbourne (+4.5%), Adelaide (+2.5%), Hobart (+2.2%), Canberra (+1.7%), Perth (+1.2%) and Darwin (+0.8%).

• The total value of residential dwellings in Australia was $5,399,951.8m at the end of December quarter 2014, rising $124,445m over the quarter.
• The mean price of residential dwellings rose $10,900 to $571,500 and the number of residential dwellings rose by 38,000 to 9,448,300 in the December quarter 2014.

• The ABS will publish a core set of residential property price indexes (RPPIs). These indexes will be released approximately six weeks later than the current timetable resulting in the indexes no longer being revised. The outputs will continue to include the House Price Index, the Attached Dwellings Price Index and the Residential Property Price Index.
• The ABS will publish an unstratified median price and the number of dwelling transfers by capital city and rest of state.
• The ABS will produce the total value of dwelling stock estimates and each of the required inputs to satisfy National Accounts requirements.
• The ABS will align the timing of the calculation and release of the total value of dwelling stock estimates and the residential property price indexes with the Australian Financial Accounts (cat. no. 5232.0).