6416.0 - House Price Indexes: Eight Capital Cities, Jun 2003
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 04/09/2003
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ESTABLISHED HOUSE PRICES
The price index for established houses in Australia rose 5.0% between the March quarter 2003 and the June quarter 2003. This was the largest quarterly increase since September quarter 2001.
Prices rose in all capital cities: Brisbane (+7.9%), Adelaide (+7.6%), Canberra (+7.1%), Perth (+6.0%), Hobart (+4.4%), Melbourne (+4.2%), Sydney (+3.9%) and Darwin (+0.5%).
Over the year to June quarter 2003, established house prices rose 18.1%.
Annual increases in the capital cities were: Brisbane (+26.3%), Adelaide (+24.7%), Canberra (+23.8%), Sydney (+20.6%), Hobart (+15.9%), Perth (+15.8%), Melbourne (+10.0%) and Darwin (+7.6%).
CHANGES IN THIS ISSUE
The index for national accounts private housing investment shown in Tables 5 and 6 has been revised due to the annual reweighting of the chain Laspeyres price index for private capital expenditure on houses. This has resulted in small revisions to the index numbers and percentage movements for December quarter 2002 and March quarter 2003.
A new series has been introduced in Tables 5 and 6. The series is the price index for "Construction industry total hourly rates of pay excluding bonuses, private and public" as published in Wage Cost Index, Australia (cat. no. 6345.0). For detailed information on the methodology used in the construction of the wage cost index, refer to Information Paper: Wage Cost Index, Australia, 2000 (cat. no. 6346.0).
For further information about these and related statistics, contact Steve Whennan on Canberra 02 6252 6251 or the National Information and Referral Service on 1300 135 070.
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