MARCH KEY FIGURES

	Dec Qtr 15 to Mar Qtr 16	Mar Qtr 15 to Mar Qtr 16
RESIDENTIAL PROPERTY PRICES	% change	% change
Weighted average of eight capital cities	-0.2%	6.8%
Sydney	-0.7%	9.7%
Melbourne	0.8%	9.8%
Brisbane	0.3%	4.1%
Adelaide	0.5%	3.1%
Perth	-1.7%	-4.5%
Hobart	1.1%	4.2%
Darwin	-2.0%	-4.9%
Canberra	-0.4%	4.6%

Total value of the dwelling stock	Mar Qtr 16
Value of dwelling stock(a) ($m)	5 930 992.0
Mean price of residential dwellings ($'000)	613.9
Number of residential dwellings ('000)	9 661.5
(a) all sectors Source(s): Residential Property Prices, Weighted average of eight capital cities, Quarterly percentage change-RPPI_QuarterlyChange_Timeseries Source(s): Residential Property Prices, Quarterly Percentage Change, March Quarter 2016-RPPI_PCT_Q_PrevQ for KP

MARCH KEY POINTS


CHANGES TO RESIDENTIAL PROPERTY PRICE INDEX

• The price index for residential properties for the weighted average of the eight capital cities fell 0.2% in the March quarter 2016. The index rose 6.8% through the year to the March quarter 2016.
• The capital city residential property price indexes fell in Sydney (-0.7%), Perth (-1.7%), Darwin (-2.0%) and Canberra (-0.4%) and rose in Melbourne (+0.8%), Brisbane (+0.3%), Adelaide (+0.5%) and Hobart (+1.1%).
• Annually, residential property prices rose in Melbourne (+9.8%), Sydney (+9.7%), Canberra (+4.6%), Hobart (+4.2%), Brisbane (+4.1%) and Adelaide (+3.1%) and fell in Darwin (-4.9%) and Perth (-4.5%).

TOTAL VALUE OF THE DWELLING STOCK

• The total value of residential dwellings in Australia was $5,930,992.0m at the end of the March quarter 2016, rising $15,392.2m over the quarter.
• The mean price of residential dwellings fell $900 to $613,900 and the number of residential dwellings rose by 39,000 to 9,661,500 in the March quarter 2016.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
June 2016	20 September 2016
September 2016	13 December 2016
December 2016	21 March 2017
March 2017	20 June 2017

REVISIONS

Revisions apply to estimates for the second and third most recent quarters of the total value of dwelling stock (see paragraph 38 of the Explanatory Notes) and to median counts and transfers (see paragraph 44 of the Explanatory Notes).


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