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1301.0 - Year Book Australia, 2002  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/01/2002   
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Contents >> Housing >> House prices

House price indexes enable the comparison of price changes between cities, though not the price levels themselves.

From 1999-2000 to 2000-01, the price index of established houses increased in all capital cities except Darwin (table 8.17).

For the fourth year in a row, Melbourne recorded the greatest rise in established house prices, increasing by 10.0% in 2000-01. Other capital city price rises were in Canberra (8.8%), Sydney (7.0%), Adelaide (6.4%), Perth (6.4%), Brisbane (5.1%) and Hobart (4.0%). House prices in Darwin fell by 0.3%. The weighted average of eight capitals index rose by 7.4%.

In 2000-01, project home prices (cost of new dwellings excluding land) rose significantly in all capital cities (table 8.18). Canberra recorded the largest increase (16.4%), followed by Sydney (12.4%), Melbourne (12.2%), Brisbane (11.7%), Adelaide (11.6%), Hobart (11.5%), Perth (9.9%) and Darwin (9.5%). The index for the weighted average of eight capitals rose by 11.8%.

The price index of materials used in house building is discussed see Construction.


8.17 PRICE INDEX NUMBERS FOR ESTABLISHED HOUSES(a)

Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Weighted average of eight capital cities

INDEX NUMBER

1998–99
137.9
126.8
141.0
114.1
118.9
123.2
193.6
128.2
130.4
1999–00
153.1
144.6
142.2
123.2
125.9
129.0
199.2
137.0
142.3
2000–01
163.8
159.1
149.4
131.1
133.9
134.2
198.7
149.1
152.8

CHANGE FROM PREVIOUS YEAR (%)

1998–99
7.3
10.9
1.5
1.8
4.9
-1.8
-2.7
1.6
6.2
1999–00
11.0
14.0
0.9
8.0
5.9
4.7
2.9
6.9
9.1
2000–01
7.0
10.0
5.1
6.4
6.4
4.0
-0.3
8.8
7.4

(a) Reference base year 1989-90 = 100.0.

Source: House Price Indexes: Eight Capital Cities (6416.0).


8.18 PRICE INDEX NUMBERS FOR PROJECT HOMES(a)

Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Weighted average of eight capital cities

INDEX NUMBER

1998–99
115.2
112.5
113.4
117.0
106.1
123.3
139.0
124.4
113.1
1999–00
123.1
122.0
118.2
127.2
114.8
126.2
143.2
131.9
120.7
2000–01
138.4
136.9
132.0
141.9
126.2
140.7
156.8
153.5
134.9

CHANGE FROM PREVIOUS YEAR (%)

1998–99
2.7
3.6
0.9
3.4
3.8
0.0
1.2
0.7
2.5
1999–00
6.9
8.4
4.2
8.7
8.2
2.4
3.0
6.0
6.7
2000–01
12.4
12.2
11.7
11.6
9.9
11.5
9.5
16.4
11.8

(a) Reference base year 1989-90 = 100.0.

Source: House Price Indexes: Eight Capital Cities (6416.0).


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