6416.0 - Residential Property Price Indexes: Eight Capital Cities, Sep 2019 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/12/2019   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product


September key statistics
Jun Qtr 19 to Sep Qtr 19
Sep Qtr 18 to Sep Qtr 19
Residential property prices
% change
% change

Weighted average of eight capital cities
2.4
-3.7
Sydney
3.6
-4.6
Melbourne
3.6
-3.5
Brisbane
0.7
-2.6
Adelaide
-0.3
-1.0
Perth
-1.2
-4.6
Hobart
1.3
2.1
Darwin
-1.2
-5.4
Canberra
-0.5
-1.4


Total value of the dwelling stock
Sep Qtr 19

Value of dwelling stock(a) ($m)
6 869 369.8
Mean price of residential dwellings ($'000)
660.8
Number of residential dwellings ('000)
10 395.2

(a) all sectors


Graph Image for Residential Property Prices, Weighted average of eight capital cities, Quarterly percentage change


Graph Image for Residential Property Prices, Quarterly Percentage Change, September Quarter 2019



September key points


The Residential Property Price Indexes

Weighted average of the eight capital cities Residential Property Price Index
  • rose 2.4% this quarter.
  • fell 3.7% over the last twelve months.

Capital city Residential Property Price Indexes
  • rose in Sydney (+3.6%), Melbourne (+3.6%), Brisbane (+0.7%) and Hobart (+1.3%), and fell in Perth (-1.2%), Adelaide (-0.3%), Canberra (-0.5%) and Darwin (-1.2%) this quarter.
  • fell in Darwin (-5.4%), Sydney (-4.6%), Perth (-4.6%), Melbourne (-3.5%), Brisbane (-2.6%), Canberra (-1.4%) and Adelaide (-1.0%), and rose in Hobart (+2.1%) over the last twelve months.

Total value of the dwelling stock
  • The total value of residential dwellings in Australia rose $189,920.7m to $6,869,369.8m this quarter.
  • The mean price of residential dwellings rose $15,600 to $660,800.
  • The number of residential dwellings rose by 43,300 to 10,395,200.


Notes

Revisions

Revisions apply to estimates for the second and third most recent quarters of the total value of dwelling stock (see Preliminary and final series, under Total value of dwelling stock, in the Explanatory notes) and to median prices and transfers (see Price indexes, unstratified medians and transfers, under Interpreting outputs, in the Explanatory notes).

Use of price indexes in contracts

Price indexes published by the Australian Bureau of Statistics (ABS) provide summary measures of the movements in various categories of prices over time. They are published primarily for use in Government economic analysis. Price indexes are also often used in contracts by businesses and government to adjust payments and/or charges to take account of changes in categories of prices (Indexation Clauses).

Use of Price Indexes in Contracts sets out a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS published price index.