6416.0 - House Price Indexes: Eight Capital Cities, Dec 2009
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 01/02/2010
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DECEMBER KEY POINTS
ESTABLISHED HOUSE PRICES
ANNUAL CHANGES (DECEMBER QUARTER 2008 TO DECEMBER QUARTER 2009)
CHANGES IN THIS ISSUE
There have been some changes this quarter to improve the price sample used to calculate the established house price index (HPI), the median price of established house transfers (unstratified) and the number of established house transfers for Perth. The derivation of the HPI benchmark for June quarter 2009 and following quarters are based on a larger set of Valuer General sales records.
Estimates for the two most recent quarters of the HPI series are preliminary and subject to revision (see paragraphs 13 and 14 of the Explanatory notes). This issue, revisions to Perth and the eight capital cities aggregate for June and September quarters 2009 also reflect changes to the price sample for Perth. The impact of these changes on the HPI benchmarks for June quarter 2009 for Perth and the eight capital cities aggregate, and consequent revisions from the figures previously published for that quarter are minimal.
The series for median price of established house transfers (unstratified) and number of established house transfers (published in Tables 7 and 8 respectively) are also subject to revision. In addition to the usual reason for revisions outlined in paragraph 33 of the Explanatory Notes, in this issue there are revisions to Perth for all quarters from March quarter 2006 resulting from changes to the price sample.
The Information Paper House Price Indexes: Concepts, Sources and Methods, Australia, 2009 (cat. no. 6464.0) was published on 14 December 2009. It replaces the last publication of this type: A Guide to House Price Indexes, Australia, 2006 (cat. no. 6464.0). The Concepts, Sources and Methods publication contains updated information on the stratification method and weights used in the HPI. It also provides more information on how the HPI is calculated and on price index concepts in general.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Mark Dubner on Sydney (02) 9268 4448.
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