CHANGES IN THIS ISSUE
A new table (Table 9 Revisions to Established House Price Index Series, Australia) is introduced with this publication. This table presents revisions in estimates of the 'leading indicator' terms, when compared with the subsequent final estimate, for the Established House Price Index, Weighted Average 8 Capital Cities. Equivalent capital city tables for these revisions are available from this web site. (Refer to the data cube under the 'Details' tab for House Price Index: Eight Capital Cities (cat. no. 6416.0).)
For more information on the 'leading indicator' terms, see paragraphs 12–15 of the Explanatory Notes.
HISTORIC ESTABLISHED HOUSE PRICE INDEX
The current methodology for calculating the established house price index was introduced in September quarter 2005, with historic data commencing in March quarter 2002. The previous established house price index, calculated using the pre-September quarter 2005 methodology, is available as time series spreadsheet table 10 of House Price Indexes: Eight Capital Cities (cat. no. 6416.0) on this web site. The series commences in June quarter 1986 and concludes in June quarter 2005.
The table has been presented for historical purposes for users who may be interested in an indicator of established house prices movements over a longer period than is available using the current methodology. Because of the different methodologies used to calculate this historical series and the new established house price index series, it is not recommended that the historical series be used as a proxy for back-casting the new established house price index for periods prior to March quarter 2002.