6416.0 - House Price Indexes: Eight Capital Cities, Jun 2003  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 04/09/2003   
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KEY FIGURES


Mar Qtr 03 to
Jun Qtr 2002 to
Jun Qtr 03
Jun Qtr 2003
ESTABLISHED HOUSE
PRICES
% change
% change
Weighted average of eight capital cities
5.0
18.1
Sydney
3.9
20.6
Melbourne
4.2
10.0
Brisbane
7.9
26.3
Adelaide
7.6
24.7
Perth
6.0
15.8
Hobart
4.4
15.9
Darwin
0.5
7.6
Canberra
7.1
23.8

Graph - Established house prices, quarterly % change
Graph - Established house prices, quarterly % change, june quarter 2003


KEY POINTS


ESTABLISHED HOUSE PRICES


QUARTERLY CHANGES

The price index for established houses in Australia rose 5.0% between the March quarter 2003 and the June quarter 2003. This was the largest quarterly increase since September quarter 2001.

Prices rose in all capital cities: Brisbane (+7.9%), Adelaide (+7.6%), Canberra (+7.1%), Perth (+6.0%), Hobart (+4.4%), Melbourne (+4.2%), Sydney (+3.9%) and Darwin (+0.5%).


ANNUAL CHANGES

Over the year to June quarter 2003, established house prices rose 18.1%.

Annual increases in the capital cities were: Brisbane (+26.3%), Adelaide (+24.7%), Canberra (+23.8%), Sydney (+20.6%), Hobart (+15.9%), Perth (+15.8%), Melbourne (+10.0%) and Darwin (+7.6%).


NOTES


CHANGES IN THIS ISSUE

The index for national accounts private housing investment shown in Tables 5 and 6 has been revised due to the annual reweighting of the chain Laspeyres price index for private capital expenditure on houses. This has resulted in small revisions to the index numbers and percentage movements for December quarter 2002 and March quarter 2003.

A new series has been introduced in Tables 5 and 6. The series is the price index for "Construction industry total hourly rates of pay excluding bonuses, private and public" as published in Wage Cost Index, Australia (cat. no. 6345.0). For detailed information on the methodology used in the construction of the wage cost index, refer to Information Paper: Wage Cost Index, Australia, 2000 (cat. no. 6346.0).


INQUIRIES

For further information about these and related statistics, contact Steve Whennan on Canberra 02 6252 6251 or the National Information and Referral Service on 1300 135 070.