6416.0 - Residential Property Price Indexes: Eight Capital Cities, Dec 2019 Quality Declaration
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 17/03/2020
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December key points
The Residential Property Price Indexes
Weighted average of the eight capital cities Residential Property Price Index
Capital city Residential Property Price Indexes
Total value of the dwelling stock
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.
Bushfires in December
Quality assurance undertaken by the ABS has confirmed that the bushfires did not result in quality impacts to residential property price statistics for the December quarter 2019. For information on the expected economic impacts of the bushfires and COVID-19, please see the ABS Chief Economist Series paper Measuring natural disasters in the Australian economy.
New ABS website
The ABS will be launching a new website in 2020. You will soon be able to see how this release will appear on the new website by exploring our Beta site. Regular users of this information are encouraged to explore the Beta site and consider if this will affect the way you access and consume ABS data and information. If you would like more information on the new ABS website, or want to discuss how the transition to the new site might impact you, please email newABSwebsite@abs.gov.au
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