1301.0 - Year Book Australia, 2007  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 24/01/2007   
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Contents >> Prices >> House price indexes

HOUSE PRICE INDEXES

    Tables 28.8 and 28.9 provide estimates of changes in house prices for each of the eight capital cities of Australia. The information is presented in the form of price indexes constructed separately for established houses and project homes. They are calculated on the reference base year 2003-04 = 100.0 for each of the eight capital cities as well as a weighted average of them. The capital city indexes measure price movements over time in each city individually. They do not measure differences in price levels between cities.

    The project homes price index measures the movements in the cost of constructing a dwelling on a client's land. The established house price index covers transactions in detached residential dwellings on their own block of land regardless of age (i.e. including new houses sold as a house/land package as well as second-hand houses). Price changes, therefore, relate to changes in the total price of dwelling and land.


    28.8 ESTABLISHED HOUSE PRICE INDEX(a)(b)
    Sydney
    Melbourne
    Brisbane
    Adelaide
    Perth
    Hobart
    Darwin
    Canberra
    Weighted average of eight capital cities
    INDEX NUMBER
    2002-03
    89.3
    89.9
    75.5
    83.1
    84.4
    69.0
    87.7
    82.7
    86.6
    2003-04
    100.0
    100.0
    100.0
    100.0
    100.0
    100.0
    100.0
    100.0
    100.0
    2004-05
    96.1
    101.9
    104.2
    106.5
    114.4
    111.8
    115.9
    99.9
    101.2
    2005-06(b)
    93.1
    106.2
    107.9
    111.9
    144.8
    119.2
    137.4
    103.4
    104.8
    CHANGE FROM PREVIOUS YEAR (%)
    2003-04
    12.0
    11.2
    32.5
    20.3
    18.5
    44.9
    14.0
    20.9
    15.5
    2004-05
    –3.9
    1.9
    4.2
    6.5
    14.4
    11.8
    15.9
    –0.1
    1.2
    2005-06(b)
    –3.1
    4.2
    3.6
    5.1
    26.6
    6.6
    18.6
    3.5
    3.6
    (a) Reference base year is 2003-04 = 100.0.
    (b) Preliminary - see latest release of House Price Indexes: Eight Capital Cities (6416.0).
    Source: House Price Indexes: Eight Capital Cities (6416.0).

    28.9 PROJECT HOME PRICE INDEX(a)
    Sydney
    Melbourne
    Brisbane
    Adelaide
    Perth
    Hobart
    Darwin
    Canberra
    Weighted average of eight capital cities
    INDEX NUMBER(b)
    2003-04
    100.0
    100.0
    100.0
    100.0
    100.0
    100.0
    100.0
    100.0
    100.0
    2004-05
    105.3
    103.3
    105.5
    103.6
    111.9
    111.6
    109.5
    102.0
    106.1
    2005-06
    107.7
    105.9
    107.4
    106.2
    130.3
    116.8
    119.8
    105.4
    110.3
    CHANGE FROM PREVIOUS YEAR (%)
    2003-04
    4.1
    4.0
    13.1
    6.4
    9.4
    8.5
    5.5
    9.2
    7.4
    2004-05
    5.3
    3.3
    5.5
    3.6
    11.9
    11.6
    9.5
    2.0
    6.1
    2005-06
    2.3
    2.5
    1.8
    2.5
    16.4
    4.7
    9.4
    3.3
    4.0
    (a) Reference base year is 2003-04 = 100.0.
    (b) Annual average of quarterly index numbers.
    Source: House Price Indexes: Eight Capital Cities (6416.0).



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