HOUSE PRICES - CAPITAL CITIES
In 2004-05 the established house price index for the weighted average of eight capital cities index rose by 2.7% (table 8.15). This was the lowest annual increase since 1996-97. Established house prices rose in Darwin (12.1%), Perth (10.6%), Adelaide (9.3%), Brisbane (7.7%), Hobart (4.6%) and Canberra (2.2%), but fell in Sydney (-0.9%) and Melbourne (-0.7%).
In 2004-05 project home prices (cost of new dwellings excluding land) rose in all capital cities (table 8.16). Perth recorded the largest increase (11.9%), followed by Hobart (11.6%), Darwin (9.4%), Brisbane (5.5%), Sydney (5.2%), Adelaide (3.6%), Melbourne (3.3%) and Canberra (2.0%). The index for the weighted average of eight capital cities rose by 6.1% in 2004-05.
The price index of materials used in house building is discussed in the Construction chapter.
8.15 PRICE INDEXES FOR ESTABLISHED HOUSES(a)(b)
|
 | Sydney | Melbourne | Brisbane | Adelaide | Perth | Hobart | Darwin | Canberra | Weighted average of eight capital cities |
|
INDEX NUMBER |
|
| 2002-03 | 233.0 | 216.4 | 211.8 | 182.6 | 164.4 | 157.1 | 218.2 | 207.2 | 209.9 |
| 2003-04 | 266.3 | 237.0 | 279.6 | 221.9 | 195.0 | 187.5 | 245.3 | 252.4 | 245.0 |
| 2004-05 | 264.0 | 235.3 | 301.2 | 242.5 | 215.7 | 196.2 | 275.1 | 258.0 | 251.5 |
|
CHANGE FROM PREVIOUS YEAR (%) |
|
| 2002-03 | 21.2 | 11.7 | 24.7 | 21.7 | 13.0 | 12.1 | 6.9 | 19.7 | 17.9 |
| 2003-04 | 14.3 | 9.5 | 32.0 | 21.5 | 18.6 | 19.4 | 12.4 | 21.8 | 16.7 |
| 2004-05 | -0.9 | -0.7 | 7.7 | 9.3 | 10.6 | 4.6 | 12.1 | 2.2 | 2.7 |
|
(a) Reference base year is 1989-90 = 100.0.
(b) The separate city indexes measure price movement within each city individually. They do not compare price levels between cities.
Source: House Price Indexes: Eight Capital Cities (6416.0). |
8.16 PRICE INDEXES FOR PROJECT HOMES(a)(b)
|
| Sydney | Melbourne | Brisbane | Adelaide | Perth | Hobart | Darwin | Canberra | Weighted average of eight capital cities |
|
INDEX NUMBER |
|
| 2002-03 | 145.2 | 147.2 | 142.9 | 155.9 | 132.9 | 158.5 | 167.2 | 171.4 | 144.1 |
| 2003-04 | 151.2 | 153.1 | 161.7 | 165.9 | 145.4 | 172.0 | 176.4 | 187.0 | 154.8 |
| 2004-05 | 159.1 | 158.1 | 170.6 | 171.9 | 162.7 | 191.9 | 193.0 | 190.7 | 164.2 |
|
CHANGE FROM PREVIOUS YEAR (%) |
|
| 2002-03 | 2.8 | 3.6 | 7.0 | 5.2 | 3.2 | 9.2 | 5.5 | 6.3 | 4.3 |
| 2003-04 | 4.1 | 4.0 | 13.2 | 6.4 | 9.4 | 8.5 | 5.5 | 9.1 | 7.4 |
| 2004-05 | 5.2 | 3.3 | 5.5 | 3.6 | 11.9 | 11.6 | 9.4 | 2.0 | 6.1 |
|
(a) Reference base year is 1989-90 = 100.0.
(b) The separate city indexes measure price movement within each city individually. They do not compare price levels between cities.
Source: House Price Indexes: Eight Capital Cities (6416.0). |
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