6416.0 - Residential Property Price Indexes: Eight Capital Cities, Sep 2018 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 11/12/2018   
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ANALYSIS
Residential Property Price Indexes

RPPI (a)
HPI
ADPI
Jun Qtr 18 to Sep Qtr 18
Jun Qtr 18 to Sep Qtr 18
Jun Qtr 18 to Sep Qtr 18
% change
% change
% change

Weighted average of eight capital cities
-1.5%
-1.7%
-1.0%
Sydney
-1.9%
-2.1%
-1.3%
Melbourne
-2.6%
-3.0%
-1.1%
Brisbane
0.6%
0.8%
-0.2%
Adelaide
0.6%
0.4%
1.2%
Perth
-0.6%
-0.5%
-1.1%
Hobart
1.3%
0.9%
3.0%
Darwin
-0.9%
0.0%
-2.7%
Canberra
0.5%
0.5%
0.7%


(a) See Explanatory Notes paragraph 50.


NOTES

The discussion of individual cities is ordered in terms of their significance to the change in the RPPI for the latest quarter.

Weighted average of the eight capital cities (-1.5%)

The RPPI for the weighted average of the eight capital cities fell 1.5% in the September quarter 2018. This follows falls in the June (-0.7%) and March (-0.7%) quarters 2018.

The RPPI fell 1.9% through the year to the September quarter 2018.

In the September quarter 2018 the HPI fell 1.7% and the ADPI fell 1.0%. Through the year to the September quarter 2018, the HPI fell 1.9% and the ADPI fell 1.8%.

The quarterly HPI result follows falls in the June (-0.6%) and March (-0.8%) quarters 2018. The ADPI result follows falls in the June (-0.7%) and March (-0.7%) quarters 2018.

Melbourne (-2.6%)

The RPPI for Melbourne fell 2.6% in September quarter 2018. This follows falls in the June (-0.8%) and March (-0.6%) quarters 2018. The index fell 1.5% through the year to the September quarter 2018.

Over the September quarter 2018 the HPI fell 3.0% following a fall of 1.0% in the June quarter 2018. The ADPI fell 1.1% following a fall of 0.2% in the June quarter 2018.

For established houses, falls were observed across most segments of the market, with weakness most evident in the lower to middle ($650,000 to $1,015,000) segments. Through the year to the September quarter 2018, the HPI fell 2.1%.

For attached dwellings, falls were driven by the upper ($610,000 to $785,000) market segments. Through the year to the September quarter 2018, the ADPI rose 0.7%.

Sydney (-1.9%)

The RPPI for Sydney fell 1.9% in the September quarter 2018. This follows falls in the June (-1.2%) and March (-1.2%) quarters 2018. The index fell 4.4% through the year to the September quarter 2018.

Over the September quarter 2018 the HPI fell 2.1% following a fall of 1.2% in the June quarter 2018. The ADPI fell 1.3% following a fall of 1.3% in the June quarter 2018.

For established houses, falls were observed across most segments of the market, with weakness most evident in the middle to upper ($990,000 to $1,400,000) segments. Through the year to the September quarter 2018, the HPI fell 4.9%.

For attached dwellings, falls were driven by the middle ($590,000 to $835,000) market segments. Through the year to the September quarter 2018, the ADPI fell 3.3%.

Perth (-0.6%)

The RPPI for Perth fell 0.6% in the September quarter 2018. This follows falls in the June (-0.1%) and March (-0.9%) quarters 2018. The index fell 0.5% through the year to the September quarter 2018.

Over the September quarter 2018 the HPI fell 0.5% and the ADPI fell 1.1%. Through the year to the September quarter 2018, the HPI was flat (0.0%) and the ADPI fell 2.7%.

Darwin (-0.9%)

The RPPI for Darwin fell 0.9% in the September quarter 2018. This follows falls in the June (-0.9%) and March (-1.1%) quarters 2018. The index fell 4.4% through the year to the September quarter 2018.

Over the September quarter 2018 the HPI was flat (0.0%) and the ADPI fell 2.7%. Through the year to the September quarter 2018, the HPI fell 1.9% and the ADPI fell 10.2%.

Brisbane (+0.6%)

The RPPI for Brisbane rose 0.6% in the September quarter 2018. This follows a rise in the June quarter 2018 (+0.7%) and a fall in the March quarter 2018 (-0.6%). The index rose 1.7% through the year to the September quarter 2018.

Over the September quarter 2018 the HPI rose 0.8% and the ADPI fell 0.2%. Through the year to the September quarter 2018, the HPI rose 2.2% and the ADPI fell 0.7%.

Adelaide (+0.6%)

The RPPI for Adelaide rose 0.6% in the September quarter 2018. This follows rises in the June (+0.3%) and March (+0.5%) quarters 2018. The index rose 2.0% through the year to the September quarter 2018.

Over the September quarter 2018 the HPI rose 0.4% and the ADPI rose 1.2%.Through the year to the September quarter 2018, the HPI rose 2.3% and the ADPI rose 1.0%.

Hobart (+1.3%)

The RPPI for Hobart rose 1.3% in the September quarter 2018. This follows rises in the June (+3.0%) and March (+4.3%) quarters 2018. The index rose 13.0% through the year to the September quarter 2018.

Over the September quarter 2018 the HPI rose 0.9% and the ADPI rose 3.0%. Through the year to the September quarter 2018, the HPI rose 13.2% and the ADPI rose 11.9%.

Canberra (+0.5%)

The RPPI for Canberra rose 0.5% in the September quarter 2018. This follows rises in the June (+0.6%) and March (+0.9%) quarters 2018. The index rose 3.7% through the year to the September quarter 2018.

Over the September quarter 2018 the HPI rose 0.5% and the ADPI rose 0.7%. Through the year to the September quarter 2018, the HPI rose 4.2% and the ADPI rose 2.3%.

Total value of the dwelling stock

Graph Image for Total Value of Dwelling Stock


The preliminary estimate of the total value of residential dwellings in Australia in the September quarter 2018 was $6,847.1 billion (down from $6,917.2 billion in the June quarter 2018). Of this, $6,505.3 billion was owned by households.

Over the same period, the number of residential dwellings rose by 40,900 to 10,143,700 and the mean price of residential dwellings fell $9,700 to $675,000.

Graph Image for Mean Dwelling Price, States and Territories, September 2018 quarter


The mean price of residential dwellings in New South Wales ($871,000) remains the highest in the country, followed by Victoria ($727,700) and then the Australian Capital Territory ($706,900). The lowest mean price is in Tasmania ($401,800).