6416.0 - House Price Indexes: Eight Capital Cities, Sep 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/11/2013   
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ANALYSIS


PRELIMINARY

September Quarter 2013 (+1.9%)

The preliminary price index for established houses for the weighted average of the eight capital cities rose 1.9% in the September quarter 2013. The index rose 7.6% through the year to the September quarter 2013. This is the largest through the year rise since September quarter 2010.

The positive movement in the September quarter 2013 was the result of rises in Sydney (+3.6%), Melbourne (+1.9%), Brisbane (+1.2%), Perth (+0.2%), Hobart (+1.4%) and Darwin (+0.4%). This was offset by falls in Canberra (-1.2%) and Adelaide (-0.6%).

The preliminary estimate for Sydney (+3.6%) follows rises in the previous three quarters (+2.4%, +1.2% and +3.8% in the December quarter 2012 and the March to June quarters 2013 respectively). The rise in Sydney was consistent across a broad range of clusters. The index rose 11.4% through the year to the September quarter 2013, the largest through the year rise since September quarter 2010.

The preliminary estimate for Melbourne (+1.9%) follows a rise in the June quarter 2013 (+2.5%, revised from +2.4%). The rise in Melbourne was spread across a range of clusters. The index rose 6.8% through the year to the September quarter 2013. This is the third consecutive through the year rise.

The preliminary estimate for Brisbane (+1.2%) follows a rise in the June quarter 2013 (+1.9%, unchanged). The rise in Brisbane was spread across a range of clusters. The index rose 4.1% through the year to the September quarter 2013, the fifth consecutive through the year rise.


REVISED

June Quarter 2013 (+2.7%)

The preliminary price index for established houses for the weighted average of the eight capital cities rose 2.7% in the June quarter 2013. This was revised from a preliminary estimated rise of 2.4%. The through the year movement has been revised from a preliminary estimated rise of 5.1% to an estimated rise of 5.4%.

The positive movement in the June quarter 2013 was the result of rises in Sydney (+3.8%, revised from +2.7%), Melbourne (+2.5%, revised from +2.4%), Perth (+2.7%, revised from +3.4%), Brisbane (+1.9%, unchanged), Adelaide (+0.9%, revised from +0.3%), Canberra (+1.0%, unchanged) and Darwin (+1.1%, revised from +2.9%). The final result for Hobart (-2.1%, revised from -1.0%) was the only fall in the June quarter 2013.

The preliminary estimate for Sydney (+3.8%) follows a rise in the March quarter 2013 (+1.2%, unchanged). Clusters with median prices below $1,300,000 contributed most to the rise in the June quarter 2013. Sydney rose 7.3% through the year to the June quarter 2013.


FINAL

March Quarter 2013 (+0.8%)

The final price index for established houses for the weighted average of the eight capital cities rose 0.8% in the March quarter 2013. The index rose 3.4% through the year to the March quarter 2013.

The positive movement in the March quarter 2013 was the result of rises in Sydney (+1.2%, unchanged), Perth (+2.0%, revised from +2.5%), Melbourne (+0.4%, revised from +0.1%), Hobart (+2.0%, revised from +2.2%) and Darwin (+0.8%, unchanged). This was offset by falls in Brisbane (-0.1%, revised from -0.2%) and Canberra (-1.4%, revised from -1.2%). Adelaide showed no movement for the quarter (revised from +0.1%).