6416.0 - Residential Property Price Indexes: Eight Capital Cities, Sep 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 10/12/2019   
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Analysis

Residential Property Price Indexes

RPPI (a)
HPI
ADPI
Jun Qtr 19 to Sep Qtr 19
Jun Qtr 19 to Sep Qtr 19
Jun Qtr 19 to Sep Qtr 19
% change
% change
% change

Weighted average of eight capital cities
2.4
2.5
2.5
Sydney
3.6
4.0
2.8
Melbourne
3.6
3.7
3.6
Brisbane
0.7
0.9
0.4
Adelaide
-0.3
-0.3
-0.4
Perth
-1.2
-1.7
1.0
Hobart
1.3
1.5
0.1
Darwin
-1.2
-0.6
-2.6
Canberra
-0.5
-1.4
2.4



(a) See Explanatory Notes paragraph 54.


Notes

The discussion of individual cities is ordered in terms of their significance to the change in the Residential Property Price Index (RPPI) for the latest quarter. The RPPI comprises the House Price Index (HPI) and the Attached Dwellings Price Index (ADPI).

Weighted average of the eight capital cities (+2.4%)

RPPI
  • rose 2.4% this quarter, following a fall of 0.7% in the June quarter 2019.
  • fell 3.7% over the last twelve months.

HPI
  • rose 2.5% this quarter, following a fall of 0.6% in the June quarter 2019.
  • fell 3.9% over the last twelve months.

ADPI
  • rose 2.5% this quarter, following a fall of 0.8% in the June quarter 2019.
  • fell 3.2% over the last twelve months.

Sydney (+3.6%)

RPPI
  • rose 3.6% this quarter, following a fall of 0.5% in the June quarter 2019.
  • fell 4.6% over the last twelve months.
HPI
  • rose 4.0% this quarter, following a fall of 0.2% in the June quarter 2019.
  • price rises were observed across most segments of the market, with price growth particularly evident in the middle ($950,000 - $1.3m) market segments. The lower ($950,000 and below) market segments saw increased activity, with significant rises in sales transaction numbers this quarter.
  • fell 4.5% over the last twelve months.
ADPI
  • rose 2.8% this quarter, following a fall of 1.0% in the June quarter 2019.
  • price rises were driven by the middle to upper ($700,000 - $1m) segments of the market. Significant rises in sales transaction numbers were observed in the middle to lower ($700,000 and below) segments of the market this quarter.
  • fell 4.8% over the last twelve months.

Melbourne (+3.6%)

RPPI
  • rose 3.6% this quarter, following a fall of 0.8% in the June quarter 2019.
  • fell 3.5% over the last twelve months.
HPI
  • rose 3.7% this quarter, following a fall of 1.0% in the June quarter 2019.
  • price rises were observed across all market segments, with price growth most evident in the middle to upper ($970,000+) segments of the market. Significant rises in sales transaction numbers were observed in the middle to lower ($745,000 and below) market segments this quarter.
  • fell 4.3% over the last twelve months.
ADPI
  • rose 3.6% this quarter, following a fall of 0.3% in the June quarter 2019.
  • price rises were observed across most of the market, with price growth particularly evident in the middle to upper ($630,000+) market segments. The middle to lower ($530,000 and below) market segments saw increased activity, with significant rises in sales transaction numbers this quarter.
  • fell 1.2% over the last twelve months.

Brisbane (+0.7%)

RPPI
  • rose 0.7% this quarter, following a fall of 0.7% in the June quarter 2019.
  • fell 2.6% over the last twelve months.

HPI
  • rose 0.9% this quarter.
  • fell 2.5% over the last twelve months.

ADPI
  • rose 0.4% this quarter.
  • fell 2.6% over the last twelve months.

Hobart (+1.3%)

RPPI
  • rose 1.3% this quarter, following a rise of 0.5% in the June quarter 2019.
  • rose 2.1% over the last twelve months.

HPI
  • rose 1.5% this quarter.
  • rose 1.9% over the last twelve months.

ADPI
  • rose 0.1% this quarter.
  • rose 3.1% over the last twelve months.

Perth (-1.2%)

RPPI
  • fell 1.2% this quarter, following a fall of 1.4% in the June quarter 2019.
  • fell 4.6% over the last twelve months.

HPI
  • fell 1.7% this quarter.
  • fell 4.9% over the last twelve months.

ADPI
  • rose 1.0% this quarter.
  • fell 3.1% over the last twelve months.

Adelaide (-0.3%)

RPPI
  • fell 0.3% this quarter, following a fall of 0.6% in the June quarter 2019.
  • fell 1.0% over the last twelve months.

HPI
  • fell 0.3% this quarter.
  • fell 1.1% over the last twelve months.

ADPI
  • fell 0.4% this quarter.
  • fell 0.6% over the last twelve months.

Canberra (-0.5%)

RPPI
  • fell 0.5% this quarter, following a rise of 0.2% in the June quarter 2019.
  • fell 1.4% over the last twelve months.

HPI
  • fell 1.4% this quarter.
  • fell 2.3% over the last twelve months.

ADPI
  • rose 2.4% this quarter.
  • rose 1.2% over the last twelve months.
Darwin (-1.2%)

RPPI
  • fell 1.2% this quarter, following a fall of 1.8% in the June quarter 2019.
  • fell 5.4% over the last twelve months.

HPI
  • fell 0.6% this quarter.
  • fell 4.0% over the last twelve months.

ADPI
  • fell 2.6% this quarter.
  • fell 8.7% over the last twelve months.

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 this quarter was $6,869.4 billion, up from $6,679.4 billion in the June quarter 2019. Of this, $6,556.4 billion was owned by households.
  • The number of residential dwellings rose by 43,300 to 10,395,200 and the mean price of residential dwellings rose $15,600 to $660,800 this quarter.

Graph Image for Mean Dwelling Price, States and Territories, September Quarter 2019

  • The mean price of residential dwellings in New South Wales ($851,000) remains the highest in the country, followed by Victoria ($708,600) and then the Australian Capital Territory ($664,500). The lowest mean price is in Tasmania ($426,800).