6416.0 - Residential Property Price Indexes: Eight Capital Cities, Mar 2015 Quality Declaration
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 23/06/2015
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Sydney continues to drive residential property price increases
As well as the rise in Sydney, the RPPI rose in Melbourne (+0.6 per cent), Brisbane (+0.4 per cent), Adelaide (+0.7 per cent), Canberra (+1.1 per cent) and Hobart (+0.5 per cent). The RPPI fell in Darwin (-0.2 per cent) and Perth (-0.1 per cent).
The total value of Australia's 9.5 million residential dwellings increased to $5.5 trillion. The mean price of dwellings in Australia is now $576,100, an increase of $8,400 over the quarter.
A review of the Residential Property Price Indexes was undertaken in 2014 as a response to planned reductions to the ABS work program. The review outcomes have been implemented in the March quarter 2015. Detailed information relating to the implementation of the review outcomes is available in Residential Property Price Indexes: Eight Capital Cities (cat. no. 6416.0), available for free download from the ABS website - http://www.abs.gov.au.
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