MARCH KEY FIGURES

	Dec Qtr 16 to Mar Qtr 17	Mar Qtr 16 to Mar Qtr 17
RESIDENTIAL PROPERTY PRICES	% change	% change
Weighted average of eight capital cities	2.2	10.2
Sydney	3.0	14.4
Melbourne	3.1	13.4
Brisbane	0.0	3.5
Adelaide	1.5	5.0
Perth	-1.0	-3.5
Hobart	3.4	11.3
Darwin	-0.9	-5.9
Canberra	2.8	8.9

Total value of the dwelling stock	Mar Qtr 17
Value of dwelling stock(a) ($m)	6 602 132.3
Mean price of residential dwellings ($'000)	669.7
Number of residential dwellings ('000)	9 858.4
(a) all sectors Source(s): Residential Property Prices, Weighted average of eight capital cities, Quarterly percentage change-RPPI Percentage Quarterly Change 8 caps - Timeseries

MARCH KEY POINTS


CHANGES TO RESIDENTIAL PROPERTY PRICE INDEX

• The price index for residential properties for the weighted average of the eight capital cities rose 2.2% in the March quarter 2017. The index rose 10.2% through the year to the March quarter 2017.
• The capital city residential property price indexes rose in Sydney (+3.0%), Melbourne (+3.1%), Adelaide (+1.5%), Canberra (+2.8%) and Hobart (+3.4%) and fell in Perth (-1.0%) and Darwin (-0.9%). Brisbane was flat (0.0%).
• Annually, residential property prices rose in Sydney (+14.4%), Melbourne (+13.4%), Hobart (+11.3%), Canberra (+8.9%), Adelaide (+5.0%) and Brisbane (+3.5%) and fell in Darwin (-5.9%) and Perth (-3.5%).

TOTAL VALUE OF THE DWELLING STOCK

• The total value of residential dwellings in Australia was $6,602,132.3m at the end of the March quarter 2017, rising $163,122.9m over the quarter.
• The mean price of residential dwellings rose $13,900 to $669,700 and the number of residential dwellings rose by 39,800 to 9,858,400 in the March quarter 2017.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
June 2017	19 September 2017
September 2017	12 December 2017
December 2017	20 March 2018
March 2018	19 June 2018

REVISIONS

Revisions apply to estimates for the second and third most recent quarters of the total value of dwelling stock (see paragraph 38 of the Explanatory Notes) and to median counts and transfers (see paragraph 44 of the Explanatory Notes).


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