In 2003-04 the price index for established houses increased in all capital cities (table 8.15). Brisbane recorded the greatest rise in established house prices, increasing by 32.0% in 2003-04. Other capital city price rises were in Canberra (21.8%), Adelaide (21.5%), Hobart (19.4%), Perth (18.6%), Sydney (13.1%), Darwin (12.4%) and Melbourne (9.5%). The weighted average of eight capitals index rose by 16.2% in 2003-04.
In 2003-04 project home prices (cost of new dwellings excluding land) rose in all capital cities (table 8.16). Brisbane recorded the largest increase (13.2%), followed by Perth (9.4%), Canberra (9.1%), Hobart (8.5%), Adelaide (6.4%), Darwin (5.5%), Sydney (4.1%) and Melbourne (4.0%). The index for the weighted average of eight capitals rose by 7.4% in 2003-04.
The price index of materials used in house building is discussed in Chapter 19 Construction.
8.15 PRICE INDEXES FOR ESTABLISHED HOUSES(a)(b)
|
 | Sydney | Melbourne | Brisbane | Adelaide | Perth | Hobart | Darwin | Canberra | Weighted average of eight capital cities |
|
INDEX NUMBER |
|
| 2001-02 | 192.2 | 193.7 | 169.8 | 150.1 | 145.5 | 140.1 | 204.2 | 173.1 | 178.0 |
| 2002-03 | 233.0 | 216.4 | 211.8 | 182.6 | 164.4 | 157.1 | 218.2 | 207.2 | 209.9 |
| 2003-04 | 263.5 | 237.0 | 279.6 | 221.9 | 195.0 | 187.5 | 245.3 | 252.4 | 244.0 |
|
CHANGE FROM PREVIOUS YEAR (%) |
|
| 2001-02 | 17.3 | 21.7 | 13.7 | 14.5 | 8.7 | 4.4 | 2.8 | 16.1 | 16.5 |
| 2002-03 | 21.2 | 11.7 | 24.7 | 21.7 | 13.0 | 12.1 | 6.9 | 19.7 | 17.9 |
| 2003-04 | 13.1 | 9.5 | 32.0 | 21.5 | 18.6 | 19.4 | 12.4 | 21.8 | 16.2 |
|
(a) Reference base year is 1989-90 = 100.0.
(b) The separate city indexes measure price movement within each city individually. They do not compare price levels between cities.
Source: House Price Indexes: Eight Capital Cities (6416.0). |
8.16 PRICE INDEXES FOR PROJECT HOMES(a)(b)
|
| Sydney | Melbourne | Brisbane | Adelaide | Perth | Hobart | Darwin | Canberra | Weighted average of eight capital cities |
|
INDEX NUMBER |
|
| 2001-02 | 141.3 | 142.1 | 133.5 | 148.2 | 128.8 | 145.1 | 158.5 | 161.3 | 138.1 |
| 2002-03 | 145.2 | 147.2 | 142.9 | 155.9 | 132.9 | 158.5 | 167.2 | 171.4 | 144.1 |
| 2003-04 | 151.2 | 153.1 | 161.7 | 165.9 | 145.4 | 172.0 | 176.4 | 187.0 | 154.8 |
|
CHANGE FROM PREVIOUS YEAR (%) |
|
| 2001-02 | 2.1 | 3.8 | 1.1 | 4.4 | 2.1 | 3.1 | 1.1 | 5.1 | 2.4 |
| 2002-03 | 2.8 | 3.6 | 7.0 | 5.2 | 3.2 | 9.2 | 5.5 | 6.3 | 4.3 |
| 2003-04 | 4.1 | 4.0 | 13.2 | 6.4 | 9.4 | 8.5 | 5.5 | 9.1 | 7.4 |
|
(a) Reference base year is 1989-90 = 100.0.
(b) The separate city indexes measure price movement within each city individually. They do not compare price levels between cities.
Source: House Price Indexes: Eight Capital Cities (6416.0). |
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