Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Release Date
ABS @ Facebook ABS @ Twitter ABS RSS ABS Email notification service
6416.0 - House Price Indexes: Eight Capital Cities, Jun 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/08/2011   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

ANALYSIS


PRELIMINARY:

June Quarter 2011 (-0.1%)

The preliminary price index for established houses for the weighted average of the eight capital cities decreased 0.1% in the June quarter 2011. Through the year to the June quarter 2011, the index decreased 1.9%. This was the largest through the year decrease since the March quarter 2009 (-5.5%).

The negative movement in the June quarter 2011 was the result of decreases in Perth (-1.0%), Adelaide (-0.8%), Brisbane (-0.3%), Melbourne (-0.1%), Darwin (-1.6%), and Hobart (-0.1%). These decreases were offset by increases in Sydney (+0.4%) and Canberra (+1.1%).

The preliminary estimate for Perth (-1.0%) followed decreases in the June and September quarters 2010, a stable result in the December quarter 2010, and a decrease in the March quarter 2011. Through the year to the June quarter 2011, the index decreased 4.1%, which was the largest through the year decrease since the March quarter 2009 (-7.0%). Median prices decreased in almost all clusters in the June quarter 2011.

In contrast, the preliminary estimate for Sydney (+0.4%) was the first increase in the index since the June quarter 2010. Decreases in the subsequent quarters resulted in a through the year decrease of 0.7%. This was the first through the year decrease since the June quarter 2009 (-0.8%). Most of the positive contributions to the capital city quarterly increase were concentrated in clusters with median prices between $600 000 and $1 500 000.


REVISED:

March Quarter 2011 (-1.1%)

The preliminary price index for established houses for the weighted average of the eight capital cities decreased 1.1% in the March quarter 2011. This was revised from a preliminary estimated decrease of 1.7%. The through the year movement has been revised from an estimated decrease of 0.2% to an estimate of no change (0.0%).

The negative movement in the March quarter 2011 was the result of decreases in Melbourne (-1.6%, revised from -2.5%), Sydney (-0.6%, revised from -1.8%), Brisbane (-1.8%, revised from -2.5%), Adelaide (-1.6%, revised from -1.0%), Perth (-0.5%, revised from +0.5%), Darwin (-1.6%, revised from -1.0%), and Hobart (-0.7%, revised from +0.4%). The preliminary result for Canberra (+0.1%, revised from -0.4%) was the only positive movement in the March quarter 2011.

The preliminary estimate for Melbourne was revised from a decrease of 2.5% to a decrease of 1.6%. Through the year to the March quarter 2011, the index increased 0.9%, revised from an increase of 1.1%. Median prices decreased in almost all clusters in the March quarter 2011.

The preliminary estimate for Sydney was revised from a decrease of 1.8% to a decrease of 0.6%. Through the year to the March quarter 2011, the index increased 1.6%, revised from an increase of 0.8%. In the March quarter 2011, median prices in some clusters increased while others decreased. As more data became available, the additional observations for the March quarter 2011 resulted in smaller median price decreases across some clusters.

The preliminary estimate for Brisbane was revised from a decrease of 2.5% to a decrease of 1.8%. This was the largest decrease in the index since the December quarter 2008 (-1.8%). The through the year decrease of 3.0% was the largest since the March quarter 2009 (-4.9%). Some areas of the Brisbane Statistical Division were affected by flooding in January 2011. Some clusters were expected to be impacted more than others, however, consistent median price decreases were observed across almost all clusters. Additional data confirmed preliminary observations that sales activity decreased in the March quarter 2011 across almost all clusters.


FINAL:

December Quarter 2010 (+0.5%)

The movement in the established house price index for the weighted average of the eight capital cities for the December quarter 2010 was revised from a second preliminary estimated increase of 0.8% to a final estimated increase of 0.5%. The movement in the index through the year to the December quarter 2010 was revised from an estimated increase of 5.0% to an increase of 4.6%.

The positive movement in the December quarter 2010 was the result of increases in Melbourne (+1.5%, revised from +2.6%), Adelaide (+0.6%, revised from +0.4%), Hobart (+3.4%, revised from +2.5%), Canberra (+0.7%, revised from +1.6%), and Darwin (+0.6%, revised from +0.4%). These increases were offset by decreases in Sydney (-0.3%, revised from +0.2%) and Brisbane (-0.1%, revised from +0.1%). Perth showed no quarterly movement in the December quarter 2010 (revised from -0.9%).

The revision to the second estimate for Melbourne (from +2.6% to +1.5%) was the main contributor to the revision to the weighted average of the eight capital cities second estimate.


Bookmark and Share. Opens in a new window

Commonwealth of Australia 2014

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.