6416.0 - Residential Property Price Indexes: Eight Capital Cities, Dec 2013 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 11/02/2014
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Residential Property Price Index: December Quarter 2013 (+3.4%) The preliminary residential property price index for the weighted average of the eight capital cities rose 3.4% in the December quarter 2013. The index rose 9.3% through the year to the December quarter 2013. This is the largest through the year rise since September quarter 2010. The positive movement in the December quarter 2013 was the result of rises in Sydney (+4.7%), Melbourne (+2.6%), Perth (+3.3%), Brisbane (+2.8%), Adelaide (+2.5%), Hobart (+2.0%), Darwin (+1.7%) and Canberra (+0.3%). House Price Index: December Quarter 2013 (+3.5%) The preliminary price index for established houses for the weighted average of the eight capital cities rose 3.5% in the December quarter 2013. This is the largest quarterly rise since March quarter 2010. The index rose 9.5% through the year to the December quarter 2013. The positive movement in the December quarter 2013 was the result of rises in Sydney (+4.9%), Melbourne (+2.8%), Perth (+3.5%), Brisbane (+3.0%), Adelaide (+2.8%), Hobart (+2.3%), Darwin (+2.7%) and Canberra (+0.4%). The preliminary estimate for Sydney (+4.9%) follows rises in the previous four quarters (+2.5%, +1.2%, +3.7% and +3.9% in the December quarter 2012 and the March to September quarters 2013 respectively). Strata with median prices between $450,000 and $1,000,000 contributed most to the rise in the December quarter 2013. The index rose 14.3% through the year to the December quarter 2013, the largest through the year rise since June quarter 2010. The preliminary estimate for Melbourne (+2.8%) follows a rise in the September quarter 2013 (+3.0%, revised from +1.9%). Strata with median prices between $400,000 and $1,000,000 contributed most to the rise in the December quarter 2013. The index rose 8.6% through the year to the December quarter 2013. This is the fourth consecutive through the year rise. Attached Dwellings Price Index: December Quarter 2013 (+3.0%) The preliminary price index for attached dwellings for the weighted average of the eight capital cities rose 3.0% in the December quarter 2013. This is the largest quarterly rise since the December quarter 2009. The index rose 8.8% through the year to the December quarter 2013. The positive movement in the December quarter 2013 was the result of rises in Sydney (+4.4%), Melbourne (+1.9%), Perth (+2.6%), Brisbane (+2.2%), Adelaide (+1.5%), Hobart (+0.7%) and Canberra (+0.1%). This was offset by a fall in Darwin (-0.4%). The preliminary estimate for Sydney (+4.4%) follows rises in the previous four quarters (+3.3%, +0.7%, +3.9% and +3.4% in the December quarter 2012 and the March to September quarters 2013 respectively). Strata with median prices between $350,000 and $750,000 contributed most to the rise in the December quarter 2013. The index rose 13.0% through the year to the December quarter 2013, the largest through the year rise since the June quarter 2010. The preliminary estimate for Melbourne (+1.9%) follows a rise in the September quarter 2013 (+2.1%, revised from +2.3%). Strata with median prices between $350,000 and $550,000 contributed most to the rise in the December quarter 2013. The index rose 5.9% through the year to the December quarter 2013, the largest through the year rise since the September quarter 2010. REVISED: Residential Property Price Index: September Quarter 2013 (+2.4%) The preliminary residential property price index for the weighted average of the eight capital cities rose 2.4% in the September quarter 2013. This was revised from a preliminary estimated rise of 1.9%. The through the year movement has been revised from a preliminary estimated rise of 7.8% to an estimated rise of 8.0%. The positive movement in the September quarter 2013 was the result of rises in Sydney (+3.7%, revised from +3.3%), Melbourne (+2.8%, revised from +1.9%), Brisbane (+1.4%, revised from +1.0%), Adelaide (+0.2%, revised from -0.6%), Perth (+0.1%, revised from +0.4%), Hobart (+1.2%, revised from +1.0%), Canberra (+0.2%, revised from -0.9%) and Darwin (+0.3%, revised from +0.2%). House Price Index: September Quarter 2013 (+2.5%) The preliminary price index for established houses for the weighted average of the eight capital cities rose 2.5% in the September quarter 2013. This was revised from a preliminary estimated rise of 1.9%. The through the year movement has been revised from a preliminary estimated rise of 7.6% to an estimated rise of 8.1%. The positive movement in the September quarter 2013 was the result of rises in Sydney (+3.9%, revised from +3.6%), Melbourne (+3.0%, revised from +1.9%), Brisbane (+1.6%, revised from +1.2%), Adelaide (+0.5%, revised from -0.6%), Hobart (+1.6%, revised from +1.4%), Perth (+0.1%, revised from +0.2%), Darwin (+0.5%, revised from +0.4%) and Canberra (0.0%, revised from -1.2%). Attached Dwellings Price Index: September Quarter 2013 (+2.2%) The preliminary price index for attached dwellings for the weighted average of the eight capital cities rose 2.2% in the September quarter 2013. This was revised from a preliminary estimated rise of 2.0%. The through the year movement has been revised from a preliminary estimated rise of 8.2% to an estimated rise of 7.9%. The positive movement in the September quarter 2013 was the result of rises in Sydney (+3.4%, revised from +3.0%), Melbourne (+2.1%, revised from +2.3%), Brisbane (+0.4%, revised from -0.3%), Canberra (+0.6%, revised from +0.4%) and Perth (0.0%, revised from +1.5%). This was offset by falls in Adelaide (-0.6%, revised from -0.7%), Hobart (-0.9%, revised from -0.7%) and Darwin (-0.2%, revised from -0.4%). FINAL: Residential Property Price Index: June Quarter 2013 (+2.5%) The final residential property price index for the weighted average of the eight capital cities rose 2.5% in the June quarter 2013. This was revised from a preliminary estimated rise of 2.8%. The index rose 5.3% through the year to the June quarter 2013. The positive movement in the June quarter 2013 was the result of rises in Sydney (+3.8%, unchanged), Melbourne (+1.9%, revised from +2.5%), Perth (+2.9%, unchanged), Brisbane (+1.3%, revised from +1.5%), Adelaide (+1.1%, revised from +1.4%), Canberra (+0.7%, revised from +1.1%), Darwin (+1.3%, revised from +1.0%) and Hobart (0.0%, revised from -1.7%). House Price Index: June Quarter 2013 (+2.4%) The final price index for established houses for the weighted average of the eight capital cities rose 2.4% in the June quarter 2013. This was revised from a preliminary estimated rise of 2.7%. The index rose 5.3% through the year to the June quarter 2013. The positive movement in the June quarter 2013 was the result of rises in Sydney (+3.7%, revised from +3.8%), Melbourne (+2.1%, revised from +2.5%), Perth (+3.0%, revised from +2.7%), Brisbane (+1.5%, revised from +1.9%), Adelaide (+0.7%, revised from +0.9%), Canberra (+0.5%, revised from +1.0%), and Darwin (+1.2%, revised from +1.1%). This was offset by a fall in Hobart (-0.1%, revised from -2.1%). Attached Dwellings Price Index: June Quarter 2013 (+2.6%) The final price index for attached dwellings for the weighted average of the eight capital cities rose 2.6% in the June quarter 2013. This was revised from a preliminary estimated rise of 3.0%. The index rose 5.6% through the year to the June quarter 2013. The positive movement in the June quarter 2013 was the result of rises in Sydney (+3.9%, revised from +3.7%), Melbourne (+1.5%, revised from +2.6%), Perth (+2.3%, revised from +3.5%), Adelaide (+2.1%, revised from +3.2%), Canberra (+1.5%, unchanged), Brisbane (+0.3%, revised from 0.0%), Darwin (+1.5%, revised from +0.7%) and Hobart (+0.5%, revised from -0.1%). TOTAL VALUE OF THE DWELLING STOCK: The estimated total value of residential dwellings in Australia in the December quarter 2013 was $5,017.0 b (up from $4,832.7 b in the September quarter 2013). Of this, $4,753.8 b was owned by households. Over the same period, the number of residential dwellings rose from 9,263,400 to 9,300,700. The mean price of residential dwellings rose $17,700 to $539,400. The mean price of residential dwellings remains the highest in NSW ($633,200) followed by WA ($593,200) and the ACT ($568,300). Document Selection These documents will be presented in a new window.
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