6416.0 - Residential Property Price Indexes: Eight Capital Cities, Mar 2016 Quality Declaration
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 21/06/2016
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Property prices fall in March quarter 2016
The Residential Property Price Index (RPPI) fell 0.2 per cent in the March quarter 2016, according to figures released today by the Australian Bureau of Statistics (ABS).
This was the first fall since the September quarter 2012.
Attached dwellings, such as apartments, largely drove price falls in the RPPI.
The attached dwellings price index fell 0.8 per cent in the March quarter 2016. Falls were recorded in Melbourne (-1.3 per cent), Sydney (-0.6 per cent), Perth (-1.1 per cent), Canberra (-1.1 per cent) and Adelaide (-0.4 per cent). Brisbane (+0.7 per cent), Hobart (+2.3 per cent) and Darwin (+0.1 per cent) recorded rises.
Established house prices for the eight capital cities was flat (0.0 per cent).
The total value of Australia's 9.7 million residential dwellings increased $15.4 billion to $5.9 trillion. The mean price of dwellings in Australia is now $613,900.
Further details can be found in Residential Property Price Indexes: Eight Capital Cities (cat. no. 6416.0), available for free download from the ABS website www.abs.gov.au.
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