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1367.5 - Western Australian Statistical Indicators, 2010  
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Contents >> Prices >> House Prices Indexes

HOUSE PRICE INDEXES

HOUSE PRICE INDEXES(a), Perth

Sep qtr 2010
Jun qtr 2010 to Sep qtr 2010
Sep qtr 2009 to Sep qtr 2010
index no.
% change
% change

Established houses (b)
p209.0
p0.4
p9.4
Project homes
159.2
0.4
3.3

p preliminary figure or series subject to revision
(a) Base of each index 2003-04 = 100.0.
(b) Estimates for the two most recent quarters are experimental (see paragraph 12 and 13 of the Explanatory Notes in the source publication).
Source: House Price Indexes, Eight Capital Cities (cat. no. 6416.0).
  • In the September quarter 2010, Perth was one of only three capital cities to record an increase in its preliminary established house price index.
  • Perth's price index for project homes increased by 0.4% in the September quarter 2010, similar to the weighted average for the eight capital cities (0.5%).


House Price Index, Annual Change: Original
Graph: House Price Index, Annual Change: Original

  • The project homes index has been relatively stable for the past few years, with annual increases of less than 4%. This followed a period of strong growth between 2004 and 2007, when annual increases in Perth's house price index were over 10% as growth in the mining and resources industries created a housing boom.
  • In contrast, the established house price index has exhibited greater volatility over recent years. The 9% rise in this index for the year to September 2010 contrasts with a 2.4% increase over the corresponding year to September 2009, and a 4.6% fall in the year to September 2008.


ESTABLISHED HOUSE TRANSFERS(a), Perth

Median Price
Total
Original
$000
no.

2009
March
439.0
5 896
June
455.0
7 134
September
473.0
7 687
December
505.0
6 625
2010
March
517.0
6 347

(a) Both series (median price and total number of established house transfers) are based on house sales data provided by the Valuers-General (VGs) Office in each State/Territory, and are only available for those quarters for which final index estimates are available.
Source: House Price Indexes, Eight Capital Cities (cat. no. 6416.0).

  • In the March quarter 2010, the median price of established house transfers in Perth increased by 2.4%. This was the fifth consecutive quarterly increase, after the median price fell by over 11% through 2008.
  • While the median price of established house transfers increased in the March quarter 2010, the number of these transfers decreased for the second consecutive quarter, reflecting interest rate increases and the end of government stimulus initiatives in a post-GFC environment.


This link takes you to time series spreadsheets from House Price Indexes: Eight Capital Cities, Sep 2010 (cat. no. 6416.0).

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