6416.0 - Residential Property Price Indexes: Eight Capital Cities, Jun 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 17/09/2019   
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ANALYSIS

Residential Property Price Indexes

RPPI (a)
HPI
ADPI
Mar Qtr 19 to Jun Qtr 19
Mar Qtr 19 to Jun Qtr 19
Mar Qtr 19 to Jun Qtr 19
% change
% change
% change

Weighted average of eight capital cities
-0.7
-0.6
-0.8
Sydney
-0.5
-0.2
-1.0
Melbourne
-0.8
-1.0
-0.3
Brisbane
-0.7
-0.9
-0.1
Adelaide
-0.6
-0.7
0.0
Perth
-1.4
-1.1
-2.5
Hobart
0.5
0.3
0.9
Darwin
-1.8
-1.5
-2.6
Canberra
0.2
0.6
-1.2



(a) See Explanatory Notes paragraph 54.


NOTES

The discussion of individual cities is ordered in terms of their significance to the change in the Residential Property Price Index (RPPI) for the latest quarter.

The RPPI comprises the House Price Index (HPI) and the Attached Dwellings Price Index (ADPI).

Weighted average of the eight capital cities (-0.7%)

RPPI
  • fell 0.7% this quarter, following a fall of 3.0% in the March quarter 2019.
  • fell 7.4% over the last twelve months.

HPI
  • fell 0.6% this quarter, following a fall of 3.1% in the March quarter 2019.
  • fell 7.7% over the last twelve months.

ADPI
  • fell 0.8% this quarter, following a fall of 3.0% in the March quarter 2019.
  • fell 6.5% over the last twelve months.

Melbourne (-0.8%)

RPPI
  • fell 0.8% this quarter, following a fall of 3.8% in the March quarter 2019.
  • fell 9.3% over the last twelve months.

HPI
  • fell 1.0% this quarter, following a fall of 3.7% in the March quarter 2019.
  • falls were observed across most segments of the market, though more moderate than previous quarters. Weakness was most evident in the upper ($1.3 million+) market segments.
  • fell 10.5% over the last twelve months.

ADPI
  • fell 0.3% this quarter, following a fall of 4.2% in the March quarter 2019.
  • falls were observed across most segments of the market, though more moderate than previous quarters. Slight growth in the middle market segments partly offset the falls this quarter.
  • fell 5.8% over the last twelve months.

Sydney (-0.5%)

RPPI
  • fell 0.5% this quarter, following a fall of 3.9% in the March quarter 2019.
  • fell 9.6% over the last twelve months.

HPI
  • fell 0.2% this quarter, following a fall of 4.2% in the March quarter 2019.
  • results were mixed across the market segments. Weakness in the upper ($2.7 million+) segments of the market was partly offset by slight growth across the middle market segments.
  • fell 10.1% over the last twelve months.

ADPI
  • fell 1.0% this quarter, following a fall of 3.3% in the March quarter 2019.
  • falls were observed across most segments of the market, offset slightly by some growth in the upper ($1.1million+) market segments.
  • fell 8.6% over the last twelve months.

Perth (-1.4%)

RPPI
  • fell 1.4% this quarter, following a fall of 1.1% in the March quarter 2019.
  • fell 3.9% over the last twelve months.

HPI
  • fell 1.1% this quarter.
  • fell 3.7% over the last twelve months.

ADPI
  • fell 2.5% this quarter.
  • fell 5.2% over the last twelve months.

Brisbane (-0.7%)

RPPI
  • fell 0.7% this quarter, following a fall of 1.5% in the March quarter 2019.
  • fell 2.7% over the last twelve months.

HPI
  • fell 0.9% this quarter.
  • fell 2.6% over the last twelve months.

ADPI
  • fell 0.1% this quarter.
  • fell 3.2% over the last twelve months.

Adelaide (-0.6%)

RPPI
  • fell 0.6% this quarter, following a fall of 0.2% in the March quarter 2019.
  • fell 0.1% over the last twelve months.

HPI
  • fell 0.7% this quarter.
  • fell 0.4% over the last twelve months.

ADPI
  • was unchanged (0.0%) this quarter.
  • rose 0.9% over the last twelve months.

Darwin (-1.8%)

RPPI
  • fell 1.8% this quarter, following a fall of 1.8% in the March quarter 2019.
  • fell 5.0% over the last twelve months.

HPI
  • fell 1.5% this quarter.
  • fell 3.3% over the last twelve months.

ADPI
  • fell 2.6% this quarter.
  • fell 8.8% over the last twelve months.

Hobart (+0.5%)

RPPI
  • rose 0.5% this quarter, following a fall of 0.4% in the March quarter 2019.
  • rose 2.0% over the last twelve months.

HPI
  • rose 0.3% this quarter.
  • rose 1.3% over the last twelve months.

ADPI
  • rose 0.9% this quarter.
  • rose 6.1% over the last twelve months.

Canberra (+0.2%)

RPPI
  • rose 0.2% this quarter, following a fall of 0.9% in the March quarter 2019.
  • fell 0.4% over the last twelve months.

HPI
  • rose 0.6% this quarter.
  • fell 0.5% over the last twelve months.

ADPI
  • fell 1.2% this quarter.
  • fell 0.5% over the last twelve months.

Total value of the dwelling stock

Graph Image for Total Value of Dwelling Stock

  • The preliminary estimate of the total value of residential dwellings in Australia this quarter was $6,610.6 billion, down from $6,628.2 billion in the March quarter 2019. Of this, $6,308.5 billion was owned by households.
  • The number of residential dwellings rose by 43,100 to 10,347,200 and the mean price of residential dwellings fell $4,400 to $638,900 this quarter.

Graph Image for Mean Dwelling Price, States and Territories, June Quarter 2019

  • The mean price of residential dwellings in New South Wales ($819,800) remains the highest in the country, with the Australian Capital Territory ($671,200) now ranking second ahead of Victoria ($670,700). The lowest mean price is in Tasmania ($412,900).