Residential Property Price Indexes: Eight Capital Cities

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Estimates of changes in residential property prices and the total value of Australia's dwelling stock, and preliminary housing market activity data

Reference period

June 2021

Released

14/09/2021

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Key statistics

Weighted average of the eight capital cities Residential Property Price Index:

rose 6.7% this quarter.
rose 16.8% over the last twelve months.

The total value of residential dwellings in Australia rose $596.4b to $8,924.6b this quarter.

June key statistics

Residential property prices	Mar Qtr 21 to Jun Qtr 21	Jun Qtr 20 to Jun Qtr 21
Residential property prices	% change	% change
Weighted average of eight capital cities	6.7	16.8
Sydney	8.1	19.3
Melbourne	6.1	15.0
Brisbane	5.7	14.6
Adelaide	5.3	14.2
Perth	4.8	15.0
Hobart	6.3	17.7
Darwin	4.6	12.8
Canberra	8.2	19.1

Total value of the dwelling stock in Australia	Jun Qtr 21
Value of dwelling stock(a) ($b)	8 924.6
Mean price of residential dwellings ($'000)	835.7
Number of residential dwellings ('000)	10 679.5

a. all sectors

Residential property prices, weighted average of eight capital cities, quarterly percentage change
	RPPI 8 Caps % change
Jun-19	-0.7
Sep-19	2.4
Dec-19	3.9
Mar-20	1.6
Jun-20	-1.8
Sep-20	0.8
Dec-20	3
Mar-21	5.4
Jun-21	6.7

Residential property prices, weighted average of eight capital cities, quarterly percentage change

["","RPPI 8 Caps % change"]

[["Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[-0.69999999999999996],[2.3999999999999999],[3.8999999999999999],[1.6000000000000001],[-1.8],[0.80000000000000004],[3],[5.4000000000000004],[6.7000000000000002]]]

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Residential property prices, quarterly percentage change, June quarter 2021
	Quarterly percentage change
Sydney	8.1
Melbourne	6.1
Brisbane	5.7
Adelaide	5.3
Perth	4.8
Hobart	6.3
Darwin	4.6
Canberra	8.2
Average	6.7

Residential property prices, quarterly percentage change, June quarter 2021

["","Quarterly percentage change"]

[["Sydney","Melbourne","Brisbane","Adelaide","Perth","Hobart","Darwin","Canberra","Average"],[[8.0999999999999996],[6.0999999999999996],[5.7000000000000002],[5.2999999999999998],[4.7999999999999998],[6.2999999999999998],[4.5999999999999996],[8.1999999999999993],[6.7000000000000002]]]

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June key points

The Residential Property Price Indexes

Weighted average of the eight capital cities

rose 6.7% this quarter.
rose 16.8% over the last twelve months.

Capital city Residential Property Price Indexes

rose in Sydney (+8.1%), Melbourne (+6.1%), Brisbane (+5.7%), Perth (+4.8%), Adelaide (+5.3%), Canberra (+8.2%), Hobart (+6.3%), and Darwin (+4.6%), this quarter.
rose in Sydney (+19.3%), Canberra (+19.1%), Hobart (+17.7%), Melbourne (+15.0%), Perth (+15.0%), Brisbane (+14.6%), Adelaide (+14.2%), and Darwin (+12.8%), over the last twelve months.

Total value of the dwelling stock

the total value of residential dwellings in Australia rose $596.4b to $8,924.6b this quarter.
the mean price of residential dwellings rose $52,600 to $835,700.
the number of residential dwellings rose by 44,400 to 10,679,500.

Analysis

Residential Property Price Indexes
	RPPI (a)	HPI	ADPI
	Mar Qtr 21 to Jun Qtr 21	Mar Qtr 21 to Jun Qtr 21	Mar Qtr 21 to Jun Qtr 21
	% change	% change	% change
Weighted average of eight capital cities	6.7	7.7	4.3
Sydney	8.1	9.6	5.1
Melbourne	6.1	7.2	2.9
Brisbane	5.7	6.2	3.1
Adelaide	5.3	6.1	2.5
Perth	4.8	5.0	4.2
Hobart	6.3	6.3	6.4
Darwin	4.6	4.2	5.2
Canberra	8.2	8.9	6.0

a. See reference to rounding in Methodology page.

The Residential Property Price Index comprises the House Price Index and the Attached Dwellings Price Index.

Weighted average of the eight capital cities (+6.7%)

Weighted average of 8 capital cities, quarterly percentage change, June quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	2.3	1.4	2
Sep-16	1.6	1.2	1.5
Dec-16	4.7	2.3	4.1
Mar-17	2.4	1.7	2.2
Jun-17	1.9	1.9	1.9
Sep-17	0	-0.8	-0.2
Dec-17	1.1	0.6	1
Mar-18	-0.8	-0.7	-0.7
Jun-18	-0.6	-0.7	-0.7
Sep-18	-1.7	-1	-1.5
Dec-18	-2.6	-1.9	-2.4
Mar-19	-3.1	-3	-3
Jun-19	-0.6	-0.8	-0.7
Sep-19	2.5	2.5	2.4
Dec-19	4.2	3.4	3.9
Mar-20	2	0.7	1.6
Jun-20	-2.1	-1.2	-1.8
Sep-20	1	0.3	0.8
Dec-20	3.5	1.8	3
Mar-21	6.4	2.7	5.4
Jun-21	7.7	4.3	6.7

Weighted average of 8 capital cities, quarterly percentage change, June quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[2.2999999999999998],[1.6000000000000001],[4.7000000000000002],[2.3999999999999999],[1.8999999999999999],[0],[1.1000000000000001],[-0.80000000000000004],[-0.59999999999999998],[-1.7],[-2.6000000000000001],[-3.1000000000000001],[-0.59999999999999998],[2.5],[4.2000000000000002],[2],[-2.1000000000000001],[1],[3.5],[6.4000000000000004],[7.7000000000000002]],[[1.3999999999999999],[1.2],[2.2999999999999998],[1.7],[1.8999999999999999],[-0.80000000000000004],[0.59999999999999998],[-0.69999999999999996],[-0.69999999999999996],[-1],[-1.8999999999999999],[-3],[-0.80000000000000004],[2.5],[3.3999999999999999],[0.69999999999999996],[-1.2],[0.29999999999999999],[1.8],[2.7000000000000002],[4.2999999999999998]],[[2],[1.5],[4.0999999999999996],[2.2000000000000002],[1.8999999999999999],[-0.20000000000000001],[1],[-0.69999999999999996],[-0.69999999999999996],[-1.5],[-2.3999999999999999],[-3],[-0.69999999999999996],[2.3999999999999999],[3.8999999999999999],[1.6000000000000001],[-1.8],[0.80000000000000004],[3],[5.4000000000000004],[6.7000000000000002]]]

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Residential Property Price Index

rose 6.7% this quarter, following a rise of 5.4% in the March quarter 2021. This is the largest quarterly rise since the commencement of the series, in the September quarter 2003.
rose 16.8% over the last twelve months.

Price rises were observed in all capital cities, with the result this quarter driven by rises in the Sydney (+8.1%) and Melbourne (+6.1%) property markets. In percentage terms, the strongest rise was in Canberra (+8.2%).

In most cities, price rises were observed in all segments of the market but particularly in the upper market segments. Growth in house prices continued to outpace price growth in attached dwellings in all cities except Hobart and Darwin.

Results reflect a strengthening of market conditions seen in recent quarters. Record low interest rates, strong demand fuelled by rising consumer confidence, and low levels of stock on market all continue to put upward pressure on residential property prices.

The most recent COVID-19 related shutdown in Sydney began on 26 June 2021 and therefore did not have a noticeable impact on residential property price statistics in the June quarter 2021. Similarly, restrictions imposed in other cities during the quarter have had no discernible effect on property price growth.

House Price Index

rose 7.7% this quarter, following a rise of 6.4% in the March quarter 2021. This is the largest quarterly rise in house prices since the commencement of the series, in the March quarter 2002.
rose 19.8% over the last twelve months.

Attached Dwellings Price Index

rose 4.3% this quarter, following a rise of 2.7% in the March quarter 2021. This is the largest quarterly rise in attached dwelling prices since the December quarter 2009.
rose 9.3% over the last twelve months.

Sydney (+8.1%)

Sydney, quarterly percentage change, June Quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	3.2	2	2.8
Sep-16	2.9	2.1	2.6
Dec-16	6.1	3.1	5.2
Mar-17	2.9	3.4	3
Jun-17	2.1	2.6	2.3
Sep-17	-1.3	-1.4	-1.4
Dec-17	-0.2	0	-0.1
Mar-18	-1.4	-0.7	-1.2
Jun-18	-1.2	-1.3	-1.2
Sep-18	-2.1	-1.3	-1.9
Dec-18	-3.9	-3.2	-3.7
Mar-19	-4.2	-3.3	-3.9
Jun-19	-0.2	-1	-0.5
Sep-19	4	2.8	3.6
Dec-19	5.2	3.8	4.7
Mar-20	2.6	0.8	1.9
Jun-20	-2.6	-1.4	-2.2
Sep-20	1.4	0.2	1
Dec-20	3.9	1.4	3
Mar-21	8	2.6	6.1
Jun-21	9.6	5.1	8.1

Sydney, quarterly percentage change, June Quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[3.2000000000000002],[2.8999999999999999],[6.0999999999999996],[2.8999999999999999],[2.1000000000000001],[-1.3],[-0.20000000000000001],[-1.3999999999999999],[-1.2],[-2.1000000000000001],[-3.8999999999999999],[-4.2000000000000002],[-0.20000000000000001],[4],[5.2000000000000002],[2.6000000000000001],[-2.6000000000000001],[1.3999999999999999],[3.8999999999999999],[8],[9.5999999999999996]],[[2],[2.1000000000000001],[3.1000000000000001],[3.3999999999999999],[2.6000000000000001],[-1.3999999999999999],[0],[-0.69999999999999996],[-1.3],[-1.3],[-3.2000000000000002],[-3.2999999999999998],[-1],[2.7999999999999998],[3.7999999999999998],[0.80000000000000004],[-1.3999999999999999],[0.20000000000000001],[1.3999999999999999],[2.6000000000000001],[5.0999999999999996]],[[2.7999999999999998],[2.6000000000000001],[5.2000000000000002],[3],[2.2999999999999998],[-1.3999999999999999],[-0.10000000000000001],[-1.2],[-1.2],[-1.8999999999999999],[-3.7000000000000002],[-3.8999999999999999],[-0.5],[3.6000000000000001],[4.7000000000000002],[1.8999999999999999],[-2.2000000000000002],[1],[3],[6.0999999999999996],[8.0999999999999996]]]

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Residential Property Price Index

rose 8.1% this quarter, following a rise of 6.1% in the March quarter 2021. This is the largest quarterly rise in the index for Sydney since the June quarter 2015.
rose 19.3% over the last twelve months.

House Price Index

rose 9.6% this quarter, following a rise of 8.0% in the March quarter 2021. This is the largest quarterly rise in the index for Sydney since the June quarter 2015.
rose 24.8% over the last twelve months.

Price rises were observed across all segments of the market, with price growth this quarter most evident in the upper ($1.95m and above) market segments.

Attached Dwellings Price Index

rose 5.1% this quarter, following a rise of 2.6% in the March quarter 2021.
rose 9.6% over the last twelve months.

Price rises were observed across all segments of the market, with strength especially evident in the upper ($980,000 and above) market segments.

Melbourne (+6.1%)

Melbourne, quarterly percentage change, June quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	3.1	1.3	2.7
Sep-16	2.1	0.3	1.7
Dec-16	6	2.8	5.3
Mar-17	4.1	-0.7	3.1
Jun-17	3	2.7	3
Sep-17	1.6	-0.4	1.1
Dec-17	2.6	2.6	2.6
Mar-18	-0.5	-0.5	-0.6
Jun-18	-1	-0.2	-0.8
Sep-18	-3	-1.1	-2.6
Dec-18	-3.2	-0.2	-2.4
Mar-19	-3.7	-4.2	-3.8
Jun-19	-1	-0.3	-0.8
Sep-19	3.7	3.6	3.6
Dec-19	5.5	4.3	5.2
Mar-20	2.3	1.5	2.1
Jun-20	-2.8	-1	-2.3
Sep-20	-0.3	-0.2	-0.3
Dec-20	3.7	2.5	3.4
Mar-21	6	2.5	5.1
Jun-21	7.2	2.9	6.1

Melbourne, quarterly percentage change, June quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[3.1000000000000001],[2.1000000000000001],[6],[4.0999999999999996],[3],[1.6000000000000001],[2.6000000000000001],[-0.5],[-1],[-3],[-3.2000000000000002],[-3.7000000000000002],[-1],[3.7000000000000002],[5.5],[2.2999999999999998],[-2.7999999999999998],[-0.29999999999999999],[3.7000000000000002],[6],[7.2000000000000002]],[[1.3],[0.29999999999999999],[2.7999999999999998],[-0.69999999999999996],[2.7000000000000002],[-0.40000000000000002],[2.6000000000000001],[-0.5],[-0.20000000000000001],[-1.1000000000000001],[-0.20000000000000001],[-4.2000000000000002],[-0.29999999999999999],[3.6000000000000001],[4.2999999999999998],[1.5],[-1],[-0.20000000000000001],[2.5],[2.5],[2.8999999999999999]],[[2.7000000000000002],[1.7],[5.2999999999999998],[3.1000000000000001],[3],[1.1000000000000001],[2.6000000000000001],[-0.59999999999999998],[-0.80000000000000004],[-2.6000000000000001],[-2.3999999999999999],[-3.7999999999999998],[-0.80000000000000004],[3.6000000000000001],[5.2000000000000002],[2.1000000000000001],[-2.2999999999999998],[-0.29999999999999999],[3.3999999999999999],[5.0999999999999996],[6.0999999999999996]]]

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Residential Property Price Index

rose 6.1% this quarter, following a rise of 5.1% in the March quarter 2021. This is the largest quarterly rise in the index for Melbourne since the December quarter 2009.
rose 15.0% over the last twelve months.

House Price Index

rose 7.2% this quarter, following a rise of 6.0% in the March quarter 2021. This is the largest quarterly rise in the index for Melbourne since the December quarter 2007.
rose 17.6% over the last twelve months.

Price rises were observed across all segments of the market.

Attached Dwellings Price Index

rose 2.9% this quarter, following a rise of 2.5% in the March quarter 2021.
rose 7.9% over the last twelve months.

Price rises remain most evident in the upper ($610,000 and above) segments of the market.

Brisbane (+5.7%)

Brisbane, quarterly percentage change, June quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	1.2	1	1.1
Sep-16	0.3	-0.6	0.2
Dec-16	2.9	-1.3	2.2
Mar-17	-0.2	0.6	0
Jun-17	0.8	0	0.6
Sep-17	0.6	0.4	0.7
Dec-17	1.4	-1.2	0.9
Mar-18	-0.8	0.3	-0.6
Jun-18	0.9	0.4	0.7
Sep-18	0.8	-0.2	0.6
Dec-18	-1	-1.4	-1.1
Mar-19	-1.5	-1.6	-1.5
Jun-19	-0.9	-0.1	-0.7
Sep-19	0.9	0.4	0.7
Dec-19	2	0.8	1.8
Mar-20	1.1	-1	0.6
Jun-20	-0.9	-0.8	-0.9
Sep-20	1.6	1.3	1.5
Dec-20	2.9	1.6	2.7
Mar-21	4.6	1.9	4
Jun-21	6.2	3.1	5.7

Brisbane, quarterly percentage change, June quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[1.2],[0.29999999999999999],[2.8999999999999999],[-0.20000000000000001],[0.80000000000000004],[0.59999999999999998],[1.3999999999999999],[-0.80000000000000004],[0.90000000000000002],[0.80000000000000004],[-1],[-1.5],[-0.90000000000000002],[0.90000000000000002],[2],[1.1000000000000001],[-0.90000000000000002],[1.6000000000000001],[2.8999999999999999],[4.5999999999999996],[6.2000000000000002]],[[1],[-0.59999999999999998],[-1.3],[0.59999999999999998],[0],[0.40000000000000002],[-1.2],[0.29999999999999999],[0.40000000000000002],[-0.20000000000000001],[-1.3999999999999999],[-1.6000000000000001],[-0.10000000000000001],[0.40000000000000002],[0.80000000000000004],[-1],[-0.80000000000000004],[1.3],[1.6000000000000001],[1.8999999999999999],[3.1000000000000001]],[[1.1000000000000001],[0.20000000000000001],[2.2000000000000002],[0],[0.59999999999999998],[0.69999999999999996],[0.90000000000000002],[-0.59999999999999998],[0.69999999999999996],[0.59999999999999998],[-1.1000000000000001],[-1.5],[-0.69999999999999996],[0.69999999999999996],[1.8],[0.59999999999999998],[-0.90000000000000002],[1.5],[2.7000000000000002],[4],[5.7000000000000002]]]

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Residential Property Price Index

rose 5.7% this quarter, following a rise of 4.0% in the March quarter 2021. This is the largest quarterly rise in the index for Brisbane since the June quarter 2007.
rose 14.6% over the last twelve months.

House Price Index

rose 6.2% this quarter. This is the largest quarterly rise in the index for Brisbane since the June quarter 2007.
rose 16.0% over the last twelve months.

Price rises were observed across all segments of the market.

Attached Dwellings Price Index

rose 3.1% this quarter. This is the largest quarterly rise in the index for Brisbane since the September quarter 2009.
rose 8.1% over the last twelve months.

Price rises were observed across all segments of the market, with price growth this quarter most evident in the upper ($380,000 and above) market segments.

Adelaide (+5.3%)

Adelaide, quarterly percentage change, June quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	1	0.2	0.8
Sep-16	1	0.7	0.9
Dec-16	1.7	2.4	1.8
Mar-17	1.8	-0.1	1.5
Jun-17	0.5	1.9	0.8
Sep-17	0.5	1.4	0.7
Dec-17	0.7	0.2	0.6
Mar-18	1	-1.5	0.5
Jun-18	0.2	1.1	0.3
Sep-18	0.4	1.2	0.6
Dec-18	0.1	-0.2	0.1
Mar-19	-0.2	-0.1	-0.2
Jun-19	-0.7	0	-0.6
Sep-19	-0.3	-0.4	-0.3
Dec-19	1.6	0.6	1.4
Mar-20	0.4	0.4	0.4
Jun-20	-1	-0.2	-0.8
Sep-20	1.9	0.9	1.6
Dec-20	2.6	2.2	2.6
Mar-21	4.3	3.2	4
Jun-21	6.1	2.5	5.3

Adelaide, quarterly percentage change, June quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[1],[1],[1.7],[1.8],[0.5],[0.5],[0.69999999999999996],[1],[0.20000000000000001],[0.40000000000000002],[0.10000000000000001],[-0.20000000000000001],[-0.69999999999999996],[-0.29999999999999999],[1.6000000000000001],[0.40000000000000002],[-1],[1.8999999999999999],[2.6000000000000001],[4.2999999999999998],[6.0999999999999996]],[[0.20000000000000001],[0.69999999999999996],[2.3999999999999999],[-0.10000000000000001],[1.8999999999999999],[1.3999999999999999],[0.20000000000000001],[-1.5],[1.1000000000000001],[1.2],[-0.20000000000000001],[-0.10000000000000001],[0],[-0.40000000000000002],[0.59999999999999998],[0.40000000000000002],[-0.20000000000000001],[0.90000000000000002],[2.2000000000000002],[3.2000000000000002],[2.5]],[[0.80000000000000004],[0.90000000000000002],[1.8],[1.5],[0.80000000000000004],[0.69999999999999996],[0.59999999999999998],[0.5],[0.29999999999999999],[0.59999999999999998],[0.10000000000000001],[-0.20000000000000001],[-0.59999999999999998],[-0.29999999999999999],[1.3999999999999999],[0.40000000000000002],[-0.80000000000000004],[1.6000000000000001],[2.6000000000000001],[4],[5.2999999999999998]]]

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Residential Property Price Index

rose 5.3% this quarter, following a rise of 4.0% in the March quarter 2021. This is the largest quarterly rise in the index for Adelaide since the December quarter 2007.
rose 14.2% over the last twelve months.

House Price Index

rose 6.1% this quarter. This is the largest quarterly rise in the index for Adelaide since the December quarter 2007.
rose 15.6% over the last twelve months.

Attached Dwellings Price Index

rose 2.5% this quarter.
rose 9.2% over the last twelve months.

Perth (+4.8%)

Perth, quarterly percentage change, June quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	-1	-1.7	-1.2
Sep-16	-1.8	-0.8	-1.6
Dec-16	0.8	-1.7	0.3
Mar-17	-1.2	-0.9	-1
Jun-17	-0.6	-1.5	-0.8
Sep-17	-0.9	-1.3	-1
Dec-17	1.3	-0.2	1.1
Mar-18	-1	-0.2	-0.9
Jun-18	0.2	-1.2	-0.1
Sep-18	-0.5	-1.1	-0.6
Dec-18	-0.9	-1.5	-1
Mar-19	-1.3	-0.1	-1.1
Jun-19	-1.1	-2.5	-1.4
Sep-19	-1.7	1	-1.2
Dec-19	1.4	-0.1	1.1
Mar-20	0.8	-0.5	0.6
Jun-20	-0.3	-2.1	-0.7
Sep-20	1.5	1.3	1.4
Dec-20	3	2.2	2.9
Mar-21	5.5	3.9	5.2
Jun-21	5	4.2	4.8

Perth, quarterly percentage change, June quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[-1],[-1.8],[0.80000000000000004],[-1.2],[-0.59999999999999998],[-0.90000000000000002],[1.3],[-1],[0.20000000000000001],[-0.5],[-0.90000000000000002],[-1.3],[-1.1000000000000001],[-1.7],[1.3999999999999999],[0.80000000000000004],[-0.29999999999999999],[1.5],[3],[5.5],[5]],[[-1.7],[-0.80000000000000004],[-1.7],[-0.90000000000000002],[-1.5],[-1.3],[-0.20000000000000001],[-0.20000000000000001],[-1.2],[-1.1000000000000001],[-1.5],[-0.10000000000000001],[-2.5],[1],[-0.10000000000000001],[-0.5],[-2.1000000000000001],[1.3],[2.2000000000000002],[3.8999999999999999],[4.2000000000000002]],[[-1.2],[-1.6000000000000001],[0.29999999999999999],[-1],[-0.80000000000000004],[-1],[1.1000000000000001],[-0.90000000000000002],[-0.10000000000000001],[-0.59999999999999998],[-1],[-1.1000000000000001],[-1.3999999999999999],[-1.2],[1.1000000000000001],[0.59999999999999998],[-0.69999999999999996],[1.3999999999999999],[2.8999999999999999],[5.2000000000000002],[4.7999999999999998]]]

[]

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[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Residential Property Price Index

rose 4.8% this quarter, following a rise of 5.2% in the March quarter 2021.
rose 15.0% over the last twelve months.

House Price Index

rose 5.0% this quarter.
rose 15.7% over the last twelve months.

Attached Dwellings Price Index

rose 4.2% this quarter.
rose 12.1% over the last twelve months.

Hobart (+6.3%)

Hobart, quarterly percentage change, June quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	0.6	1.3	0.7
Sep-16	2.2	2.1	2.3
Dec-16	4.4	5.4	4.5
Mar-17	3.1	5.1	3.4
Jun-17	2	0.6	1.8
Sep-17	3	5.9	3.4
Dec-17	4	3.9	3.9
Mar-18	4.9	0.6	4.3
Jun-18	2.8	4	3
Sep-18	0.9	3	1.3
Dec-18	0.3	3.3	0.7
Mar-19	-0.2	-1.2	-0.4
Jun-19	0.3	0.9	0.5
Sep-19	1.5	0.1	1.3
Dec-19	2.6	3.5	2.7
Mar-20	2.4	2.4	2.4
Jun-20	-0.4	-0.4	-0.4
Sep-20	1.2	0.9	1.2
Dec-20	3.2	3.1	3.1
Mar-21	6.2	4.9	6.1
Jun-21	6.3	6.4	6.3

Hobart, quarterly percentage change, June quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[0.59999999999999998],[2.2000000000000002],[4.4000000000000004],[3.1000000000000001],[2],[3],[4],[4.9000000000000004],[2.7999999999999998],[0.90000000000000002],[0.29999999999999999],[-0.20000000000000001],[0.29999999999999999],[1.5],[2.6000000000000001],[2.3999999999999999],[-0.40000000000000002],[1.2],[3.2000000000000002],[6.2000000000000002],[6.2999999999999998]],[[1.3],[2.1000000000000001],[5.4000000000000004],[5.0999999999999996],[0.59999999999999998],[5.9000000000000004],[3.8999999999999999],[0.59999999999999998],[4],[3],[3.2999999999999998],[-1.2],[0.90000000000000002],[0.10000000000000001],[3.5],[2.3999999999999999],[-0.40000000000000002],[0.90000000000000002],[3.1000000000000001],[4.9000000000000004],[6.4000000000000004]],[[0.69999999999999996],[2.2999999999999998],[4.5],[3.3999999999999999],[1.8],[3.3999999999999999],[3.8999999999999999],[4.2999999999999998],[3],[1.3],[0.69999999999999996],[-0.40000000000000002],[0.5],[1.3],[2.7000000000000002],[2.3999999999999999],[-0.40000000000000002],[1.2],[3.1000000000000001],[6.0999999999999996],[6.2999999999999998]]]

[]

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[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Residential Property Price Index

rose 6.3% this quarter, following a rise of 6.1% in the March quarter 2021.
rose 17.7% over the last twelve months.

House Price Index

rose 6.3% this quarter.
rose 17.9% over the last twelve months.

Attached Dwellings Price Index

rose 6.4% this quarter.
rose 16.0% over the last twelve months.

All three indexes have recorded the largest quarterly rise for Hobart since the December quarter 2003.

Darwin (+4.6%)

Darwin, quarterly percentage change, June quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	-1.9	-3.4	-2.4
Sep-16	-2.2	0.8	-1.2
Dec-16	-1.2	-2.5	-1.5
Mar-17	-0.4	-2.1	-0.9
Jun-17	-1.1	-1.8	-1.4
Sep-17	-2.5	-2.8	-2.6
Dec-17	-1	-2.8	-1.5
Mar-18	-0.2	-3.4	-1.1
Jun-18	-0.7	-1.7	-0.9
Sep-18	0	-2.7	-0.9
Dec-18	0.1	-2.2	-0.6
Mar-19	-2	-1.5	-1.8
Jun-19	-1.5	-2.6	-1.8
Sep-19	-0.6	-2.6	-1.2
Dec-19	-0.8	-0.6	-0.8
Mar-20	0.8	0.5	0.7
Jun-20	-1.4	-1.4	-1.4
Sep-20	1	0.3	0.8
Dec-20	2.4	1.8	2.2
Mar-21	5.6	2.5	4.7
Jun-21	4.2	5.2	4.6

Darwin, quarterly percentage change, June quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[-1.8999999999999999],[-2.2000000000000002],[-1.2],[-0.40000000000000002],[-1.1000000000000001],[-2.5],[-1],[-0.20000000000000001],[-0.69999999999999996],[0],[0.10000000000000001],[-2],[-1.5],[-0.59999999999999998],[-0.80000000000000004],[0.80000000000000004],[-1.3999999999999999],[1],[2.3999999999999999],[5.5999999999999996],[4.2000000000000002]],[[-3.3999999999999999],[0.80000000000000004],[-2.5],[-2.1000000000000001],[-1.8],[-2.7999999999999998],[-2.7999999999999998],[-3.3999999999999999],[-1.7],[-2.7000000000000002],[-2.2000000000000002],[-1.5],[-2.6000000000000001],[-2.6000000000000001],[-0.59999999999999998],[0.5],[-1.3999999999999999],[0.29999999999999999],[1.8],[2.5],[5.2000000000000002]],[[-2.3999999999999999],[-1.2],[-1.5],[-0.90000000000000002],[-1.3999999999999999],[-2.6000000000000001],[-1.5],[-1.1000000000000001],[-0.90000000000000002],[-0.90000000000000002],[-0.59999999999999998],[-1.8],[-1.8],[-1.2],[-0.80000000000000004],[0.69999999999999996],[-1.3999999999999999],[0.80000000000000004],[2.2000000000000002],[4.7000000000000002],[4.5999999999999996]]]

[]

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[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Residential Property Price Index

rose 4.6% this quarter, following a rise of 4.7% in the March quarter 2021.
rose 12.8% over the last twelve months.

House Price Index

rose 4.2% this quarter.
rose 13.8% over the last twelve months.

Attached Dwellings Price Index

rose 5.2% this quarter.
rose 10.0% over the last twelve months.

Canberra (+8.2%)

Canberra, quarterly percentage change, June quarter 2021
	House Price Index	Attached Dwelling Price Index	Residential Property Price Index
Jun-16	2.8	0	2.2
Sep-16	0.8	0.8	0.8
Dec-16	3	2.3	2.8
Mar-17	3.6	-0.2	2.8
Jun-17	1.4	0.8	1.3
Sep-17	0.2	-1.1	-0.2
Dec-17	1.6	1.9	1.7
Mar-18	1.5	-1.2	0.9
Jun-18	0.5	0.9	0.6
Sep-18	0.5	0.7	0.5
Dec-18	-0.4	0.2	-0.2
Mar-19	-1.1	-0.1	-0.9
Jun-19	0.6	-1.2	0.2
Sep-19	-1.4	2.4	-0.5
Dec-19	3.3	2.7	3.1
Mar-20	1	-2.4	0.2
Jun-20	0.8	0.7	0.8
Sep-20	0.9	0.8	0.9
Dec-20	3.5	3.1	3.4
Mar-21	6.4	3	5.6
Jun-21	8.9	6	8.2

Canberra, quarterly percentage change, June quarter 2021

["","House Price Index","Attached Dwelling Price Index","Residential Property Price Index"]

[["Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[2.7999999999999998],[0.80000000000000004],[3],[3.6000000000000001],[1.3999999999999999],[0.20000000000000001],[1.6000000000000001],[1.5],[0.5],[0.5],[-0.40000000000000002],[-1.1000000000000001],[0.59999999999999998],[-1.3999999999999999],[3.2999999999999998],[1],[0.80000000000000004],[0.90000000000000002],[3.5],[6.4000000000000004],[8.9000000000000004]],[[0],[0.80000000000000004],[2.2999999999999998],[-0.20000000000000001],[0.80000000000000004],[-1.1000000000000001],[1.8999999999999999],[-1.2],[0.90000000000000002],[0.69999999999999996],[0.20000000000000001],[-0.10000000000000001],[-1.2],[2.3999999999999999],[2.7000000000000002],[-2.3999999999999999],[0.69999999999999996],[0.80000000000000004],[3.1000000000000001],[3],[6]],[[2.2000000000000002],[0.80000000000000004],[2.7999999999999998],[2.7999999999999998],[1.3],[-0.20000000000000001],[1.7],[0.90000000000000002],[0.59999999999999998],[0.5],[-0.20000000000000001],[-0.90000000000000002],[0.20000000000000001],[-0.5],[3.1000000000000001],[0.20000000000000001],[0.80000000000000004],[0.90000000000000002],[3.3999999999999999],[5.5999999999999996],[8.1999999999999993]]]

[]

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[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Residential Property Price Index

rose 8.2% this quarter, following a rise of 5.6% in the March quarter 2021. This is the largest quarterly rise in the index for Canberra since the commencement of the series, in the September quarter 2003.
rose 19.1% over the last twelve months.

House Price Index

rose 8.9% this quarter. This is the largest quarterly rise in the index for Canberra since the commencement of the series, in the March quarter 2002.
rose 21.0% over the last twelve months.

Attached Dwellings Price Index

rose 6.0% this quarter. This is the largest quarterly rise in the index for Canberra since the commencement of the series, in the September quarter 2003.
rose 13.5% over the last twelve months.

Total value of dwelling stock, June quarter 2021
	Total value of dwelling stock ($m)
Jun-18	6,920,978.3
Sep-18	6,860,065.3
Dec-18	6,788,971.4
Mar-19	6,656,041.1
Jun-19	6,720,484.5
Sep-19	6,951,369.8
Dec-19	7,170,832.2
Mar-20	7,278,072.7
Jun-20	7,251,093.3
Sep-20	7,487,531.1
Dec-20	7,886,460.5
Mar-21	8,328,147.7
Jun-21	8,924,572.4

Total value of dwelling stock, June quarter 2021

["","Total value of dwelling stock ($m)"]

[["Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21"],[[6920978.2999999998],[6860065.2999999998],[6788971.4000000004],[6656041.0999999996],[6720484.5],[6951369.7999999998],[7170832.2000000002],[7278072.7000000002],[7251093.2999999998],[7487531.0999999996],[7886460.5],[8328147.7000000002],[8924572.4000000004]]]

[]

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[{"value":"0","axis_id":"0","axis_title":"$m","axis_units":"","tooltip_units":"","table_units":"","axis_min":"6600000","axis_max":"9000000","tick_interval":"200000","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

The preliminary estimate of the total value of residential dwellings in Australia in the June quarter 2021 was $8,924.6 billion, up $596.4 billion from $8,328.1 billion in the March quarter 2021. This is the largest rise on record for the series.

Of the total value of residential dwellings, $8,527.6 billion was owned by households.

The number of residential dwellings rose by 44,400 to 10,679,500, and the mean price of residential dwellings rose $52,600 to $835,700, this quarter.

The value of residential dwellings in NSW this quarter was $3,612.2 billion, approximately 40 per cent of the total value of dwellings in Australia.

Mean dwelling price, states and territories, June quarter 2021
	Mean price ($'000)
NSW	1,093.1
VIC	891.5
QLD	631
SA	547.9
WA	612.6
TAS	576.2
NT	466.3
ACT	891.7
Australia	835.7

Mean dwelling price, states and territories, June quarter 2021

["","Mean price ($'000)"]

[["NSW","VIC","QLD","SA","WA","TAS","NT","ACT","Australia"],[[1093.0999999999999],[891.5],[631],[547.89999999999998],[612.60000000000002],[576.20000000000005],[466.30000000000001],[891.70000000000005],[835.70000000000005]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"$'000","axis_units":"","tooltip_units":"","table_units":"","axis_min":"0","axis_max":"1200","tick_interval":"100","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

The mean price of residential dwellings in NSW rose by $81,800 to $1,093,100 and was the highest in the country. The second highest mean price was in the Australian Capital Territory ($891,700), followed by Victoria ($891,500). This is the first quarter that the ACT’s mean price has exceeded that in Victoria since the March quarter 2015.

Data downloads

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Data downloads

Data files

Table 1. Residential property price index, index numbers and percentage changes
Download xls [109.5 KB]
Table 2. Established house price index, index numbers and percentage changes
Download xls [111 KB]
Table 3. Attached dwellings price index, index numbers and percentage changes
Download xls [112.5 KB]
Table 4 and 5. Median price (unstratified) and number of transfers (capital city and rest of state)
Download xls [280 KB]
Table 6. Value of residential dwellings, all series
Download xls [141 KB]
Table 7. All index numbers
Download xls [113.5 KB]
Table 8. Established house price index, index numbers, pre-September quarter 2005 methodology
Download xls [54 KB]

Notes

Revisions

Revisions apply to estimates for the second and third most recent quarters of the total value of dwelling stock and its components (see Revisions, under Total value of dwelling stock, in the Methodology page), and to median prices and transfers (see Revisions, under Dwelling transfer counts and median prices, in the Methodology page). Revisions to these estimates for previous quarters are standard practice in these series.

Use of price indexes in contracts

Price indexes published by the Australian Bureau of Statistics (ABS) provide summary measures of the movements in various categories of prices over time. They are published primarily for use in Government economic analysis. Price indexes are also often used in contracts by businesses and government to adjust payments and/or charges to take account of changes in categories of prices (Indexation Clauses).

Use of Price Indexes in Contracts sets out a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS published price index.

Previous catalogue number

This release previously used catalogue number 6416.0

Methodology

Residential Property Price Indexes: Eight Capital Cities methodology, June 2021

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APA

Citation

Residential Property Price Indexes: Eight Capital Cities

APA

Citation

Key statistics

June key statistics

June key points

The Residential Property Price Indexes

Total value of the dwelling stock

Analysis

Weighted average of the eight capital cities (+6.7%)

Sydney (+8.1%)

Melbourne (+6.1%)

Brisbane (+5.7%)

Adelaide (+5.3%)

Perth (+4.8%)

Hobart (+6.3%)

Darwin (+4.6%)

Canberra (+8.2%)

Data downloads

Data downloads

Table 1. Residential property price index, index numbers and percentage changes

Table 2. Established house price index, index numbers and percentage changes

Table 3. Attached dwellings price index, index numbers and percentage changes

Table 4 and 5. Median price (unstratified) and number of transfers (capital city and rest of state)

Table 6. Value of residential dwellings, all series

Table 7. All index numbers

Table 8. Established house price index, index numbers, pre-September quarter 2005 methodology

Notes

Revisions

Use of price indexes in contracts

Previous catalogue number

Methodology

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APA

Residential Property Price Indexes: Eight Capital Cities

APA

Key statistics

June key statistics

June key points

The Residential Property Price Indexes

Total value of the dwelling stock

Analysis

Weighted average of the eight capital cities (+6.7%)

Sydney (+8.1%)

Melbourne (+6.1%)

Brisbane (+5.7%)

Adelaide (+5.3%)

Perth (+4.8%)

Hobart (+6.3%)

Darwin (+4.6%)

Canberra (+8.2%)

Data downloads

Data downloads

Table 1. Residential property price index, index numbers and percentage changes

Table 2. Established house price index, index numbers and percentage changes

Table 3. Attached dwellings price index, index numbers and percentage changes

Table 4 and 5. Median price (unstratified) and number of transfers (capital city and rest of state)

Table 6. Value of residential dwellings, all series

Table 7. All index numbers

Table 8. Established house price index, index numbers, pre-September quarter 2005 methodology

Notes

Revisions

Use of price indexes in contracts

Previous catalogue number

Methodology

Media releases

Residential property price growth strongest on record

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