WHAT'S NEW
From the December quarter 2013, all index numbers are calculated on a new index reference period of 2011-12. This results in the index numbers for each index series being reset to 100.0 for the financial year 2011-12. Period-to-period percentage changes may differ to those previously published due to rounding and the re-referencing. These differences do not constitute a revision.
DECEMBER KEY FIGURES
 | Sep Qtr 13 to Dec Qtr 13 | Dec Qtr 12 to Dec Qtr 13 |
| RESIDENTIAL PROPERTY PRICES | % change | % change |
|
| Weighted average of eight capital cities | 3.4 | 9.3 |
| Sydney | 4.7 | 13.8 |
| Melbourne | 2.6 | 7.9 |
| Brisbane | 2.8 | 5.7 |
| Adelaide | 2.5 | 3.4 |
| Perth | 3.3 | 8.7 |
| Hobart | 2.0 | 4.9 |
| Darwin | 1.7 | 5.0 |
| Canberra | 0.3 | -0.3 |
|
| Total Value of the Dwelling Stock | Dec Qtr 13 |
|
| Value of dwelling stock(a) ($m) | 5 017 041.4 |
| Mean price of residential dwellings ($'000) | 539.4 |
| Number of residential dwellings ('000) | 9 300.7 |
|
|
| (a) all sectors |
Residential property prices, Weighted average of eight capital cities - Quarterly % change
| Residential property prices, Quarterly % change - December quarter 2013
|
DECEMBER KEY POINTS
CHANGES TO RESIDENTIAL PROPERTY PRICE INDEX
- Preliminary estimates show that the price index for residential properties for the weighted average of the eight capital cities rose 3.4% in the December quarter 2013. The index rose 9.3% through the year to the December quarter 2013.
- The capital city residential property price indexes rose in Sydney (+4.7%), Melbourne (+2.6%), Perth (+3.3%), Brisbane (+2.8%), Adelaide (+2.5%), Hobart (+2.0%), Darwin (+1.7%) and Canberra (+0.3%).
- Annually, residential property prices rose in Sydney (+13.8%), Perth (+8.7%), Melbourne (+7.9%), Brisbane (+5.7%), Darwin (+5.0%), Hobart (+4.9%), Adelaide (+3.4%) and fell in Canberra (-0.3%).
TOTAL VALUE OF THE DWELLING STOCK
- The total value of residential dwellings in Australia was $5,017,041.4 m at the end of December quarter 2013, rising $184,304.7 m over the quarter.
- The mean price of residential dwellings rose $17,700 and the number of residential dwellings rose by 37,300 in the December quarter 2013.
NOTES
FORTHCOMING ISSUES
| ISSUE (QUARTER) | Release Date |
| March 2014 | 13 May 2014 |
| June 2014 | 12 August 2014 |
| September 2014 | 11 November 2014 |
| December 2014 | 10 February 2015 |
CHANGES IN THIS ISSUE
From the December quarter 2013, a number of changes to the content and format of this publication, and associated time series spreadsheets on the ABS website, have been made. To reflect the change in content, this publication, previously known as
House Price Indexes: Eight Capital Cities, is now known as
Residential Property Price Indexes: Eight Capital Cities. The catalogue number (6416.0) remains the same.
In summary:
- an Attached Dwellings Price Index and a Residential Property Price Index (an aggregation of the HPI and ADPI) are published in addition to the existing House Price Index;
- a measure for the total value of the dwelling stock has been developed and is published;
- all index numbers are now calculated on a new index reference period of 2011-12=100, see Appendix 1 for further details;
- the geography for the indexes has been updated to align with the Australian Statistical Geography Standard (ASGS);
- the weights and the variables used to stratify the index have been updated using data from the 2011 Census, see Appendix 2 for further details.
The change in content has led to the table numbers and series IDs (in the time series spreadsheets) changing. Appendix 3 provides a concordance between the new and old table numbers and series IDs.
Further details about these changes are available in the
Information Paper: Forthcoming changes to House Price Indexes: Eight Capital Cities (cat. no. 6416.0.55.002) which was released on 24 September 2013.
REVISIONS
Estimates for the two most recent quarters of the indexes are preliminary and subject to revision (see paragraph 26 of the Explanatory Notes). In this issue, revisions to June and September quarters 2013 also reflect updates to the weighting pattern and variables used to stratify the indexes.
INQUIRIES
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Neel Tikaram on Sydney (02) 9268 4792.
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