6416.0 - House Price Indexes: Eight Capital Cities, Jun 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/08/2013   
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ANALYSIS


PRELIMINARY:

June Quarter 2013 (+2.4%)

The preliminary price index for established houses for the weighted average of the eight capital cities rose 2.4% in the June quarter 2013. The index rose 5.1% through the year to the June quarter 2013.

The positive movement in the June quarter 2013 was the result of rises in Sydney (+2.7%), Melbourne (+2.4%), Perth (+3.4%), Brisbane (+1.9%), Canberra (+1.0%), Adelaide (+0.3%) and Darwin (+2.9%). This was partially offset by a fall in Hobart (-1.0%).

The preliminary estimate for Sydney (+2.7%) follows a rise in the March quarter 2013 (+1.2%, revised from 0.0%). Clusters with median prices between $400,000 and $850,000 contributed most to the rise in the June quarter 2013. The index rose 6.1% through the year to the June quarter 2013, the fourth consecutive through the year rise.

The preliminary estimate for Melbourne (+2.4%) follows a rise in the March quarter 2013 (+0.1%, revised from +0.2%). The rise in Melbourne was consistent across a broad range of clusters. The index rose 3.3% through the year to the June quarter 2013. This is the second consecutive through the year rise.

The preliminary estimate for Perth (+3.4%) follows rises in the previous six quarters (+0.5%, +0.9%, +0.6%, +1.2%, +3.5% and +2.5% in the December quarter 2011, the March to December quarters 2012 and the March quarter 2013 respectively). Clusters with median prices below $750,000 contributed most to the rise in the June quarter 2013. The index rose 11.0% through the year to the June quarter 2013, the fifth consecutive through the year rise.


REVISED:

March Quarter 2013 (+0.8%)

The preliminary price index for established houses for the weighted average of the eight capital cities rose 0.8% in the March quarter 2013. This was revised from a preliminary estimated rise of 0.1%. The through the year movement has been revised from a preliminary estimated rise of 2.6% to an estimated rise of 3.3%.

The positive movement in the March quarter 2013 was the result of rises in Sydney (+1.2%, revised from 0.0%), Perth (+2.5%, revised from +1.2%), Hobart (+2.2%, revised from -0.3%), Melbourne (+0.1%, revised from +0.2%), Adelaide (+0.1%, revised from -0.1%), and Darwin (+0.8%, revised from +1.9%). This was offset by falls in Canberra (-1.2%, revised from +0.2%) and Brisbane (-0.2%, revised from -0.3%).

The preliminary estimate for Sydney (+1.2%) follows a rise in the December quarter 2012 (+2.4%, revised from +2.3%). The rise in Sydney was consistent across a broad range of clusters. Sydney rose 4.9% through the year to the March quarter 2013.


FINAL:

December Quarter 2012 (+2.1%)

The final price index for established houses for the weighted average of the eight capital cities rose 2.1% in the December quarter 2012. This was revised from a preliminary estimated rise of 2.0%. The index rose 2.5% through the year to the December quarter 2012.

The positive movement in the December quarter 2012 was the result of rises in Sydney (+2.4%, revised from +2.3%), Melbourne (+2.0%, revised from +1.8%), Perth (+3.5%, revised from +3.1%), Brisbane (+1.0%, unchanged), Canberra (+2.3%, revised from +2.8%), Adelaide (+0.7%, revised from +1.1%) and Darwin (+3.5%, revised from +3.0%). The final result for Hobart (-0.2%, revised from -0.5%) was the only fall in the December quarter 2012.