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6416.0 - Residential Property Price Indexes: Eight Capital Cities, Mar 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 13/05/2014   
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MARCH KEY FIGURES

Dec Qtr 13 to Mar Qtr 14
Mar Qtr 13 to Mar Qtr 14
RESIDENTIAL PROPERTY PRICES
% change
% change

Weighted average of eight capital cities
1.7
10.9
Sydney
2.3
15.7
Melbourne
2.1
10.9
Brisbane
0.8
6.1
Adelaide
0.7
4.9
Perth
1.1
7.3
Hobart
1.4
4.8
Darwin
1.1
4.1
Canberra
-0.1
1.1


Total value of the dwelling stock
Mar Qtr 14

Value of dwelling stock(a) ($m)
5 100 821.0
Mean price of residential dwellings ($'000)
546.5
Number of residential dwellings ('000)
9 333.7

(a) all sectors

Residential property prices, Weighted average of eight capital cities - Quarterly % change
Graph: Residential property prices, Weighted average of eight capital cities—Quarterly % change

Residential property prices, Quarterly % change - March quarter 2014
Graph: Residential property prices, Quarterly % change—March quarter 2014




MARCH KEY POINTS


CHANGES TO RESIDENTIAL PROPERTY PRICE INDEX
  • Preliminary estimates show that the price index for residential properties for the weighted average of the eight capital cities rose 1.7% in the March quarter 2014. The index rose 10.9% through the year to the March quarter 2014.
  • The capital city residential property price indexes rose in Sydney (+2.3%), Melbourne (+2.1%), Perth (+1.1%), Brisbane (+0.8%), Adelaide (+0.7%), Hobart (+1.4%), Darwin (+1.1%) and fell in Canberra (-0.1%).
  • Annually, residential property prices rose in Sydney (+15.7%), Melbourne (+10.9%), Perth (+7.3), Brisbane (+6.1%), Adelaide (+4.9%), Hobart (+4.8%), Darwin (+4.1%), and Canberra (+1.1%).


TOTAL VALUE OF THE DWELLING STOCK
  • The total value of residential dwellings in Australia was $5,100,821.0 m at the end of March quarter 2014, rising $105,348.0 m over the quarter.
  • The mean price of residential dwellings rose $9,100 and the number of residential dwellings rose by 37,400 in the March quarter 2014.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
June 2014 12 August 2014
September 2014 11 November 2014
December 2014 10 February 2015
March 2015 12 May 2015



REVISIONS

Estimates for the two most recent quarters of the indexes are preliminary and subject to revision (see paragraph 26 of the Explanatory Notes).


INQUIRIES

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Commonwealth of Australia 2014

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