ESTABLISHED HOUSES
The established houses price index is compiled and published by the ABS in recognition of the widespread interest in information specifically relating to housing.
In compiling the index, the raw sales prices of a representative sample of dwellings is collected and stratified by the geographical and physical characteristics of the dwelling. This stratification is done to take into account that in addition to the physical characteristics of a dwelling, its geographical location is a significant component of quality. The overall movement in the index is then calculated by weighting together the price movements in individual strata.
In 2003-04, the price index of established housing in Hobart was 187.5, an increase of 19.4% on the 2002-03 figure of 157.1.
HOUSE PRICE INDEXES(a), Established Houses - Hobart
|
| Reference period | Index | Annual increase |
 | no. | % |
|
| 1999-2000 | 129.0 | 4.7 |
| 2000-01 | 134.2 | 4.0 |
| 2001-02 | 140.1 | 4.4 |
| 2002-03 | 157.1 | 12.1 |
| 2003-04 | 187.5 | 19.4 |
(a) Reference base of index: 1989-90 = 100.0.
Source: House Price Indexes: Eight Capital Cities (cat. no. 6416.0). |
PROJECT HOMES
The index for project homes is compiled by the ABS for use in calculating the house purchase component of the Consumer Price Index (CPI).
In compiling the index, a representative sample of project home models is selected, prices are obtained in each quarter, and the price movements for each project home model weighted together. For the Hobart House Price Index, price information for project homes is obtained at the end of each quarter from a sample of project home builders in Hobart.
In 2003-04, the price index of project homes in Hobart was 172.0, an increase of 8.5% on the 2002-03 figure of 158.5.
HOUSE PRICE INDEXES(a), Project Homes - Hobart
|
| Reference period | Index | Annual increase |
 | no. | % |
|
| 1999-2000 | 126.2 | 2.4 |
| 2000-01 | 140.7 | 11.5 |
| 2001-02 | 145.1 | 3.1 |
| 2002-03 | 158.5 | 9.2 |
| 2003-04 | 172.0 | 8.5 |
- nil or rounded to zero
(a) Reference base of index: 1989-90 = 100.0.
Source: House Price Indexes: Eight Capital Cities (cat. no. 6416.0). |
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