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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JUNE KEY STATISTICS
Mar Qtr 19 to Jun Qtr 19
Jun Qtr 18 to Jun Qtr 19
RESIDENTIAL PROPERTY PRICES
% change
% change

Weighted average of eight capital cities
-0.7
-7.4
Sydney
-0.5
-9.6
Melbourne
-0.8
-9.3
Brisbane
-0.7
-2.7
Adelaide
-0.6
-0.1
Perth
-1.4
-3.9
Hobart
0.5
2.0
Darwin
-1.8
-5.0
Canberra
0.2
-0.4


Total value of the dwelling stock
Jun Qtr 19

Value of dwelling stock(a) ($m)
6 610 590.1
Mean price of residential dwellings ($'000)
638.9
Number of residential dwellings ('000)
10 347.2

(a) all sectors


Graph Image for Residential Property Prices, Weighted average of eight capital cities, Quarterly percentage change


Graph Image for Residential Property Prices, Quarterly Percentage Change, June Quarter 2019


JUNE KEY POINTS


THE RESIDENTIAL PROPERTY PRICE INDEXES

Weighted average of the eight capital cities Residential Property Price Index
  • fell 0.7% this quarter.
  • fell 7.4% over the last twelve months.

Capital city Residential Property Price Indexes
  • fell in Melbourne (-0.8%), Sydney (-0.5%), Perth (-1.4%), Brisbane (-0.7%), Adelaide (-0.6%) and Darwin (-1.8%), and rose in Hobart (+0.5%) and Canberra (+0.2%) this quarter.
  • fell in Sydney (-9.6%), Melbourne (-9.3%), Darwin (-5.0%), Perth (-3.9%), Brisbane (-2.7%), Canberra (-0.4%) and Adelaide (-0.1%), and rose in Hobart (+2.0%) over the last twelve months.

TOTAL VALUE OF THE DWELLING STOCK
  • The total value of residential dwellings in Australia fell $17,611.6m to $6,610,590.1m this quarter.
  • The mean price of residential dwellings fell $4,400 to $638,900.
  • The number of residential dwellings rose by 43,100 to 10,347,200.


NOTES

REVISIONS

Revisions apply to estimates for the second and third most recent quarters of the total value of dwelling stock (see paragraph 41 of the Explanatory Notes) and to median prices and transfers (see paragraph 48 of 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.