JUNE KEY FIGURES

	Mar Qtr 14 to Jun Qtr 14	Jun Qtr 13 to Jun Qtr 14
RESIDENTIAL PROPERTY PRICES	% change	% change
Weighted average of eight capital cities	1.8	10.1
Sydney	3.1	15.6
Melbourne	1.3	9.3
Brisbane	1.8	6.8
Adelaide	1.0	5.6
Perth	-0.2	3.6
Hobart	0.3	4.3
Darwin	0.7	3.4
Canberra	0.8	2.2

Total value of the dwelling stock	Jun Qtr 14
Value of dwelling stock(a) ($m)	5 196 355.9
Mean price of residential dwellings ($'000)	554.8
Number of residential dwellings ('000)	9 366.8
(a) all sectors

Residential property prices, Weighted average of eight capital cities - Quarterly % change

Residential property prices, Quarterly % change - June quarter 2014

JUNE KEY POINTS


CHANGES TO RESIDENTIAL PROPERTY PRICE INDEX

• Preliminary estimates show that the price index for residential properties for the weighted average of the eight capital cities rose 1.8% in the June quarter 2014. The index rose 10.1% through the year to the June quarter 2014.
• The capital city residential property price indexes rose in Sydney (+3.1%), Melbourne (+1.3%), Brisbane (+1.8%), Adelaide (+1.0%), Canberra (+0.8%), Darwin (+0.7%) and Hobart (+0.3%) and fell in Perth (-0.2%).
• Annually, residential property prices rose in Sydney (+15.6%), Melbourne (+9.3%), Brisbane (+6.8%), Adelaide (+5.6%), Hobart (+4.3%), Perth (+3.6), Darwin (+3.4%), and Canberra (+2.2%).

TOTAL VALUE OF THE DWELLING STOCK

• The total value of residential dwellings in Australia was $5,196,355.9 m at the end of June quarter 2014, rising $112,598.5 m over the quarter.
• The mean price of residential dwellings rose $9,900 and the number of residential dwellings rose by 37,600 in the June quarter 2014.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
September 2014	11 November 2014
December 2014	10 February 2015
March 2015	12 May 2015
June 2015	11 August 2015

REVISIONS

Estimates for the two most recent quarters of the indexes are preliminary and subject to revision (see paragraph 26 of the Explanatory Notes).

Revisions to the Percentage Change (From Previous Financial Year) for 2011-12 and 2012-13 have been annotated in Tables 1, 2 and 3 of this publication. These revisions are the result of using unrounded financial year index numbers instead of rounded index numbers. The financial year percentage changes have now been re-calculated using the rounding conventions described in paragraph 45 of the Explanatory Notes.

The number of dwelling transfers and unstratified medians in Tables 4 and 5 of this publication for the Northern Territory have been revised beyond the usual period of revisions. These revisions are the result of a review of the zoning codes used in the Northern Territory attached dwellings data.


CHANGES IN FUTURE ISSUES

The Acting Australian Statistician recently announced reductions to the ABS work program. This announcement included a Review of the Residential Property Price Indexes, with the view to discontinuing it pending identification of alternative sources to meet the Australian National Accounts and other requirements.

The Review specifically relates to residential property price indexes and related statistics in this publication. For further information please contact Neel Tikaram on (02) 9268 4792 or email <neel.tikaram@abs.gov.au>.


INQUIRIES

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