6416.0 - Residential Property Price Indexes: Eight Capital Cities, Dec 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 21/03/2017   
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DECEMBER KEY FIGURES
Sep Qtr 16 to Dec Qtr 16
Dec Qtr 15 to Dec Qtr 16
RESIDENTIAL PROPERTY PRICES
% change
% change

Weighted average of eight capital cities
4.1
7.7
Sydney
5.2
10.3
Melbourne
5.3
10.8
Brisbane
2.2
3.8
Adelaide
1.8
4.1
Perth
0.3
-4.1
Hobart
4.5
8.8
Darwin
-1.5
-7.0
Canberra
2.8
5.5


Total value of the dwelling stock
Dec Qtr 16

Value of dwelling stock(a) ($m)
6 438 537.3
Mean price of residential dwellings ($'000)
656.8
Number of residential dwellings ('000)
9 802.7

(a) all sectors
Graph Image for Residential Property Prices, Weighted average of eight capital cities, Quarterly percentage change


Graph Image for Residential Property Prices, Quarterly Percentage Change, December Quarter 2016




DECEMBER KEY POINTS


CHANGES TO RESIDENTIAL PROPERTY PRICE INDEX
  • The price index for residential properties for the weighted average of the eight capital cities rose 4.1% in the December quarter 2016. The index rose 7.7% through the year to the December quarter 2016.
  • The capital city residential property price indexes rose in Melbourne (+5.3%), Sydney (+5.2%), Brisbane (+2.2%), Adelaide (+1.8%), Canberra (+2.8%), Hobart (+4.5%) and Perth (0.3%), and fell in Darwin (-1.5%).
  • Annually, residential property prices rose in Melbourne (+10.8%), Sydney (+10.3%), Brisbane (+3.8%), Adelaide (+4.1%), Canberra (+5.5%) and Hobart (+8.8%), and fell in Perth (-4.1%) and Darwin (-7.0%).



TOTAL VALUE OF THE DWELLING STOCK
  • The total value of residential dwellings in Australia was $6,438,537.3m at the end of the December quarter 2016, rising $274,160.0m over the quarter.
  • The mean price of residential dwellings rose $25,400 to $656,800 and the number of residential dwellings rose by 39,600 to 9,802,700 in the December quarter 2016.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 201720 June 2017
June 2017 19 September 2017
September 201712 December 2017
December 201720 March 2018



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).


INQUIRIES

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