6413.0.55.001 - Experimental Price Indexes for Financial Services, Sep 2004  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 29/10/2004   
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ABOUT THESE STATISTICS

This publication provides the first update of the experimental price indexes for financial services which were published in ABS Cat. no. 6413.0 Information Paper: Experimental Price Indexes for Financial Services, 1998 to 2003. Three quarters have been added to the time series: March Quarter 2004, June Quarter 2004, and September Quarter 2004.


NOTES


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070, or Keith Woolford on Canberra 02 6252 6673.


ANALYSES AND COMMENTS


EXPERIMENTAL PRICE INDEXES FOR FINANCIAL SERVICES

  • fell 1.3% in the September quarter 2004, compared with the rises in both March and June quarters 2004 of 1.9% and 0.6% respectively.
  • rose 1.7% between the September quarters 2003 and 2004.


OVERVIEW OF MOVEMENTS IN THE INDEX
  • a significant contributor to the decrease was the first-home-buyers' concession, especially in Sydney where stamp duty was abolished on houses valued up to $500,000.


INDEX NUMBERS, Weighted average of eight capital cities
Graph: INDEX NUMBERS, Weighted average of eight capital cities


TABLE 1. FINANCIAL SERVICES, Index Numbers(a)
Weighted
average of
eight capital
Period
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
cities
2001-02
109.3
110.0
114.5
108.8
112.9
110.1
110.7
109.9
110.4
2002-03
112.5
115.0
120.3
114.0
118.7
116.2
116.5
116.2
115.0
2003-04
117.6
119.5
126.1
118.5
124.8
122.1
122.1
121.4
120.0

2003
September
115.6
118.2
123.7
116.8
122.1
119.8
120.0
119.9
118.2
December
116.6
118.6
124.8
117.3
122.9
120.8
120.7
120.7
118.9
2004
March
118.7
120.5
127.6
119.7
125.3
123.4
123.4
122.6
121.1
June
119.3
120.5
128.1
120.2
128.7
124.4
124.1
122.4
121.8
September
116.3
120.1
126.5
119.4
127.7
122.5
123.1
122.4
120.2
(a) Base of each index: September Quarter 1998 = 100.0

TABLE 2. FINANCIAL SERVICES, Percentage changes
Weighted
average of
eight capital
Period
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
cities

PERCENTAGE CHANGE (from previous financial year)
2001-02
-2.8
-1.5
0.7
-2.7
-1.7
-2.3
-2.0
-2.3
-2.0
2002-03
2.9
4.5
5.1
4.8
5.1
5.5
5.2
5.7
4.2
2003-04
4.5
3.9
4.8
3.9
5.1
5.1
4.8
4.5
4.3
PERCENTAGE CHANGE (from corresponding quarter of previous year)
2003
September
4.2
4.0
4.2
3.7
5.3
4.9
4.6
5.5
4.3
December
4.8
4.2
4.9
4.0
4.2
5.4
4.8
4.9
4.5
2004
March
5.2
4.5
5.7
4.7
4.9
5.7
5.5
5.0
5.0
June
3.7
2.7
4.3
3.4
6.1
4.5
4.3
2.8
3.7
September
0.6
1.6
2.3
2.2
4.6
2.3
2.6
2.1
1.7
PERCENTAGE CHANGE (from previous quarter)
2003
September
0.5
0.8
0.7
0.4
0.7
0.6
0.8
0.7
0.7
December
0.9
0.3
0.9
0.4
0.7
0.8
0.6
0.7
0.6
2004
March
1.8
1.6
2.2
2.0
2.0
2.2
2.2
1.6
1.9
June
0.5
0.0
0.4
0.4
2.7
0.8
0.6
-0.2
0.6
September
-2.5
-0.3
-1.2
-0.7
-0.8
-1.5
-0.8
0.0
-1.3