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1301.0 - Year Book Australia, 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 20/01/2006   
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Contents >> Chapter 8 - Housing >> House prices - capital cities

HOUSE PRICES - CAPITAL CITIES

In 2004-05 the established house price index for the weighted average of eight capital cities index rose by 2.7% (table 8.15). This was the lowest annual increase since 1996-97. Established house prices rose in Darwin (12.1%), Perth (10.6%), Adelaide (9.3%), Brisbane (7.7%), Hobart (4.6%) and Canberra (2.2%), but fell in Sydney (-0.9%) and Melbourne (-0.7%).

In 2004-05 project home prices (cost of new dwellings excluding land) rose in all capital cities (table 8.16). Perth recorded the largest increase (11.9%), followed by Hobart (11.6%), Darwin (9.4%), Brisbane (5.5%), Sydney (5.2%), Adelaide (3.6%), Melbourne (3.3%) and Canberra (2.0%). The index for the weighted average of eight capital cities rose by 6.1% in 2004-05.

The price index of materials used in house building is discussed in the Construction chapter.

8.15 PRICE INDEXES FOR ESTABLISHED HOUSES(a)(b)

Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Weighted average of eight capital cities

INDEX NUMBER

2002-03
233.0
216.4
211.8
182.6
164.4
157.1
218.2
207.2
209.9
2003-04
266.3
237.0
279.6
221.9
195.0
187.5
245.3
252.4
245.0
2004-05
264.0
235.3
301.2
242.5
215.7
196.2
275.1
258.0
251.5

CHANGE FROM PREVIOUS YEAR (%)

2002-03
21.2
11.7
24.7
21.7
13.0
12.1
6.9
19.7
17.9
2003-04
14.3
9.5
32.0
21.5
18.6
19.4
12.4
21.8
16.7
2004-05
-0.9
-0.7
7.7
9.3
10.6
4.6
12.1
2.2
2.7

(a) Reference base year is 1989-90 = 100.0.
(b) The separate city indexes measure price movement within each city individually. They do not compare price levels between cities.

Source: House Price Indexes: Eight Capital Cities (6416.0).

8.16 PRICE INDEXES FOR PROJECT HOMES(a)(b)

Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Weighted average of eight capital cities

INDEX NUMBER

2002-03
145.2
147.2
142.9
155.9
132.9
158.5
167.2
171.4
144.1
2003-04
151.2
153.1
161.7
165.9
145.4
172.0
176.4
187.0
154.8
2004-05
159.1
158.1
170.6
171.9
162.7
191.9
193.0
190.7
164.2

CHANGE FROM PREVIOUS YEAR (%)

2002-03
2.8
3.6
7.0
5.2
3.2
9.2
5.5
6.3
4.3
2003-04
4.1
4.0
13.2
6.4
9.4
8.5
5.5
9.1
7.4
2004-05
5.2
3.3
5.5
3.6
11.9
11.6
9.4
2.0
6.1

(a) Reference base year is 1989-90 = 100.0.
(b) The separate city indexes measure price movement within each city individually. They do not compare price levels between cities.

Source: House Price Indexes: Eight Capital Cities (6416.0).


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