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Residential Property Price Indexes: Eight Capital Cities

Provides estimates of changes in residential property prices in each of the eight capital cities of Australia and related statistics

Reference period
September 2019
Released
10/12/2019

Key statistics

Weighted average of the eight capital cities Residential Property Price Index:

  • rose 2.4% this quarter;
  • fell 3.7% over the last twelve months.

The total value of residential dwellings in Australia rose to $6,869,369.8m this quarter.

Main features

September key statistics

 Jun Qtr 19 to Sep Qtr 19Sep Qtr 18 to Sep Qtr 19
Residential property prices% change% change
Weighted average of eight capital cities
2.4
-3.7
Sydney
3.6
-4.6
Melbourne
3.6
-3.5
Brisbane
0.7
-2.6
Adelaide
-0.3
-1.0
Perth
-1.2
-4.6
Hobart
1.3
2.1
Darwin
-1.2
-5.4
Canberra
-0.5
-1.4
Total value of the dwelling stockSep Qtr 19
Value of dwelling stock(a) ($m)6 869 369.8
Mean price of residential dwellings ($'000)660.8
Number of residential dwellings ('000)10 395.2
  1. all sectors
     
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September key points

The Residential Property Price Indexes

Weighted average of the eight capital cities Residential Property Price Index

  • rose 2.4% this quarter.
  • fell 3.7% over the last twelve months.
     

Capital city Residential Property Price Indexes

  • rose in Sydney (+3.6%), Melbourne (+3.6%), Brisbane (+0.7%) and Hobart (+1.3%), and fell in Perth (-1.2%), Adelaide (-0.3%), Canberra (-0.5%) and Darwin (-1.2%) this quarter.
  • fell in Darwin (-5.4%), Sydney (-4.6%), Perth (-4.6%), Melbourne (-3.5%), Brisbane (-2.6%), Canberra (-1.4%) and Adelaide (-1.0%), and rose in Hobart (+2.1%) over the last twelve months.
     

Total value of the dwelling stock

  • The total value of residential dwellings in Australia rose $189,920.7m to $6,869,369.8m this quarter.
  • The mean price of residential dwellings rose $15,600 to $660,800.
  • The number of residential dwellings rose by 43,300 to 10,395,200.
     

Notes

Revisions

Revisions apply to estimates for the second and third most recent quarters of the total value of dwelling stock (see Preliminary and final series, under Total value of dwelling stock, in the Methodology) and to median prices and transfers (see Price indexes, unstratified medians and transfers, under Interpreting outputs, in the Methodology).

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.

Analysis

Residential property price indexes

 RPPI (a)HPIADPI
 Jun Qtr 19 to Sep Qtr 19Jun Qtr 19 to Sep Qtr 19Jun Qtr 19 to Sep Qtr 19
 % change% change% change
Weighted average of eight capital cities
2.4
2.5
2.5
Sydney
3.6
4.0
2.8
Melbourne
3.6
3.7
3.6
Brisbane
0.7
0.9
0.4
Adelaide
-0.3
-0.3
-0.4
Perth
-1.2
-1.7
1.0
Hobart
1.3
1.5
0.1
Darwin
-1.2
-0.6
-2.6
Canberra
-0.5
-1.4
2.4
a. See the methodology page for more information on rounding.
 

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 (+2.4%)

RPPI

  • rose 2.4% this quarter, following a fall of 0.7% in the June quarter 2019.
  • fell 3.7% over the last twelve months.
     

HPI

  • rose 2.5% this quarter, following a fall of 0.6% in the June quarter 2019.
  • fell 3.9% over the last twelve months.
     

ADPI

  • rose 2.5% this quarter, following a fall of 0.8% in the June quarter 2019.
  • fell 3.2% over the last twelve months.
     

Sydney (+3.6%)

RPPI

  • rose 3.6% this quarter, following a fall of 0.5% in the June quarter 2019.
  • fell 4.6% over the last twelve months.
     

HPI

  • rose 4.0% this quarter, following a fall of 0.2% in the June quarter 2019.
  • price rises were observed across most segments of the market, with price growth particularly evident in the middle ($950,000 - $1.3m) market segments. The lower ($950,000 and below) market segments saw increased activity, with significant rises in sales transaction numbers this quarter.
  • fell 4.5% over the last twelve months.
     

ADPI

  • rose 2.8% this quarter, following a fall of 1.0% in the June quarter 2019.
  • price rises were driven by the middle to upper ($700,000 - $1m) segments of the market. Significant rises in sales transaction numbers were observed in the middle to lower ($700,000 and below) segments of the market this quarter.
  • fell 4.8% over the last twelve months.
     

Melbourne (+3.6%)

RPPI

  • rose 3.6% this quarter, following a fall of 0.8% in the June quarter 2019.
  • fell 3.5% over the last twelve months.
     

HPI

  • rose 3.7% this quarter, following a fall of 1.0% in the June quarter 2019.
  • price rises were observed across all market segments, with price growth most evident in the middle to upper ($970,000+) segments of the market. Significant rises in sales transaction numbers were observed in the middle to lower ($745,000 and below) market segments this quarter.
  • fell 4.3% over the last twelve months.
     

ADPI

  • rose 3.6% this quarter, following a fall of 0.3% in the June quarter 2019.
  • price rises were observed across most of the market, with price growth particularly evident in the middle to upper ($630,000+) market segments. The middle to lower ($530,000 and below) market segments saw increased activity, with significant rises in sales transaction numbers this quarter.
  • fell 1.2% over the last twelve months.
     

Brisbane (+0.7%)

RPPI

  • rose 0.7% this quarter, following a fall of 0.7% in the June quarter 2019.
  • fell 2.6% over the last twelve months.


HPI

  • rose 0.9% this quarter.
  • fell 2.5% over the last twelve months.


ADPI

  • rose 0.4% this quarter.
  • fell 2.6% over the last twelve months.
     

Hobart (+1.3%)

RPPI

  • rose 1.3% this quarter, following a rise of 0.5% in the June quarter 2019.
  • rose 2.1% over the last twelve months.


HPI

  • rose 1.5% this quarter.
  • rose 1.9% over the last twelve months.


ADPI

  • rose 0.1% this quarter.
  • rose 3.1% over the last twelve months.
     

Perth (-1.2%)

RPPI

  • fell 1.2% this quarter, following a fall of 1.4% in the June quarter 2019.
  • fell 4.6% over the last twelve months.


HPI

  • fell 1.7% this quarter.
  • fell 4.9% over the last twelve months.


ADPI

  • rose 1.0% this quarter.
  • fell 3.1% over the last twelve months.
     

Adelaide (-0.3%)

RPPI

  • fell 0.3% this quarter, following a fall of 0.6% in the June quarter 2019.
  • fell 1.0% over the last twelve months.


HPI

  • fell 0.3% this quarter.
  • fell 1.1% over the last twelve months.


ADPI

  • fell 0.4% this quarter.
  • fell 0.6% over the last twelve months.
     

Canberra (-0.5%)

RPPI

  • fell 0.5% this quarter, following a rise of 0.2% in the June quarter 2019.
  • fell 1.4% over the last twelve months.


HPI

  • fell 1.4% this quarter.
  • fell 2.3% over the last twelve months.


ADPI

  • rose 2.4% this quarter.
  • rose 1.2% over the last twelve months.
     

Darwin (-1.2%)

RPPI

  • fell 1.2% this quarter, following a fall of 1.8% in the June quarter 2019.
  • fell 5.4% over the last twelve months.


HPI

  • fell 0.6% this quarter.
  • fell 4.0% over the last twelve months.


ADPI

  • fell 2.6% this quarter.
  • fell 8.7% over the last twelve months.
     
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  • The preliminary estimate of the total value of residential dwellings in Australia this quarter was $6,869.4 billion, up from $6,679.4 billion in the June quarter 2019. Of this, $6,556.4 billion was owned by households.
  • The number of residential dwellings rose by 43,300 to 10,395,200 and the mean price of residential dwellings rose $15,600 to $660,800 this quarter.
     
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  • The mean price of residential dwellings in New South Wales ($851,000) remains the highest in the country, followed by Victoria ($708,600) and then the Australian Capital Territory ($664,500). The lowest mean price is in Tasmania ($426,800).

Data downloads

Table 1. Residential property price index, index numbers and percentage changes

Table 2. Established house price index, index numbers and percentage changes

Table 3. Attached dwellings price index, index numbers and percentage changes

Tables 4 and 5. Median price (unstratified) and number of transfers (capital city and rest of state)

Table 6. Value of residential dwellings, all series

Table 7. All index numbers

Table 8. Established house price index, index numbers, pre-September quarter 2005 methodology