COMMENTARY ON KEY INDICATORS
Estimated Resident Population (ERP)
- The preliminary ERP of ACT at 31 March 2009 was 349,948 persons, an increase of 6,036 persons (1.8%) since 31 March 2008.
- Of this increase, natural increase accounted for 3,094 persons (51.3%), net overseas migration for 3,253 persons (54.0%) and net interstate migration for -311 persons (-5.2%).
- Natural increase comprised 4,793 births and 1,699 deaths, net overseas migration comprised 8,009 arrivals and 4,756 departures, and net interstate migration comprised 18,719 arrivals and 19,030 departures.
Consumer Price Index (CPI)
- In the June quarter 2009, accommodation takings for ACT hotels, motels and serviced apartments with 15 or more rooms decreased by 7.5% to $48.6 million, compared to the previous quarter.
- The June quarter 2009 room occupancy rate of 67.5% for ACT hotels, motels and serviced apartments with 15 or more rooms was 3.1 percentage points lower than the previous quarter.
- For ACT hotels, motels and serviced apartments with 15 or more rooms, the average takings per room night occupied in the June quarter 2009 was $156 ($163 in the previous quarter).
State/Domestic Final Demand
- The All Groups CPI for Canberra rose 0.9% in the September quarter 2009, compared to a rise of 0.6% in the previous quarter.
- Over the year to the September quarter 2009, the All Groups CPI for Canberra rose 1.4%, compared to an annual rise of 2.1% to the June quarter 2009.
- The most significant price rises for Canberra in the September quarter were for women's footwear (9.0%), electricity (7.1%), water and sewerage (6.7%), Gas and other household fuels (6.6%), men's underwear, nightwear and socks (6.2%) and urban transport fares (5.9%). The most significant offsetting price falls were for towels and linen (-11.6%), tea, coffee and food drinks (-6.4%) and optical services (-5.3%).
- State final demand for the ACT declined 0.4% (trend terms) from March quarter 2009 to June quarter 2009 - this was the third quarterly decline in a row. This decline was largely as a result of a fall of 4.3% in public gross fixed capital formation.
- Over the year to the June quarter 2009, state final demand for the ACT declined by 1.4% (trend terms), mainly due to a fall of 22.1% ($133m) in public gross fixed capital formation.
- The trend estimate of employment in ACT increased by 100 to 193,400 persons from August 2009 to September 2009. Full-time employment decreased slightly by 100 to 145,300 persons and part-time employment increased by 200 to 48,100 persons.
- From September 2008 to September 2009, the trend estimate of employment for ACT decreased by 3,100 with full-time employment decreasing by 2,000 and part-time employment declining by 1,100.
- The trend estimate of unemployment in ACT decreased by 100 to 7,100 persons from August 2009 to September 2009, and by 1,600 persons from September 2008 to September 2009.
- The trend unemployment rate for ACT decreased by 0.1 percentage points to 3.5% from August to September 2009 and increased by 0.8 percentage points from September 2008 to September 2009. From August to September 2009, the male unemployment rate remained steady at 4.2%, the female unemployment rate decreased by 0.2 percentage points to 2.8%.
- The trend participation rate for the ACT decreased by 0.1 percentage points to 71.7% from August to September 2009. Both male (76.2%) and female (67.5%) participation rates remained steady.
- In seasonally adjusted terms, total retail turnover in the ACT increased by 0.7% from July 2009 ($370m) to August 2009 ($372.6m). Nationally, there was an increase of 0.9%.
- Food retailing (2.9%) and Cafes,restaurants and takeaway food services (3.7%) recorded increases in August 2009, Clothing, footwear and personal accessory retailing (3.2%), Department stores (1.9%), Household goods retailing (0.6%) and other retailing (3.1%) all recording declines.
- The trend estimate for the number of dwelling units approved in the ACT was 256 dwellings in August 2009, a decrease of 3.5% from the previous month.
- Over the year to August 2009, there were 2,721 dwelling units approved in the ACT, an increase of 15.2% over that for the year to August 2008 (2,363).
House Price Index
- In trend terms, the value of owner occupied housing finance commitments (excluding alterations and additions) in the ACT decreased by 2.4% from July 2009 ($287m) to August 2009 ($280m).
- The number of commitments for owner occupied housing finance in the ACT decreased by 2.0% from July 2009 (1,111) to August 2009 (1,089), in trend terms.
- In trend terms over the year to August 2009, there were 12,367 owner occupied housing finance commitments in the ACT, an increase of 23.6% over that for the year to August 2008 (10,004).
- In original terms, the number of commitments for owner occupied housing finance in the ACT for August 2009 was 1,079. Of this, 10.9% related to construction of dwellings, 6.7% to purchase of new dwellings and 82.2% to purchase of established dwellings (including refinancing).
- Preliminary estimates show the price index for established houses in Canberra increased by 3.6% in the June quarter 2009; however over the year to June 2009, the Canberra established house price index decreased by 0.2%.
- The Canberra project home price index increased by 1.2% in the June quarter 2009 and 5.0% over the year to June quarter 2009.