QTPA Member Alert |ABS Residential Property Price Indexes: Eight Capital Cities, Sep 2014

ABS Residential Property Price Indexes: Eight Capital Cities, Sep 2014

SEPTEMBER 2014 KEY POINTS ABS

CHANGES TO RESIDENTIAL PROPERTY PRICE INDEX

Preliminary estimates show that the price index for residential properties for the weighted average of the eight capital cities rose 1.5% in the September quarter 2014. The index rose 9.1% through the year to the September quarter 2014.

• The capital city residential property price indexes rose in Sydney (+2.7%), Melbourne (+1.0%), Brisbane (+1.0%), Adelaide (+1.0%), Hobart (+1.0%), Canberra (+0.3%) and Darwin (+0.3%) and fell in Perth (-0.1%).

• Annually, residential property prices rose in Sydney (+14.6%), Melbourne (+6.9%), Brisbane (+6.7%), Adelaide (+5.6%), Hobart (+4.3%), Perth (+3.7), Darwin (+3.4%), and Canberra (+2.4%).

TOTAL VALUE OF THE DWELLING STOCK

• The total value of residential dwellings in Australia was $5,296,305.3m at the end of September quarter 2014, rising $99,578m over the quarter.

• The mean price of residential dwellings rose $8,300 and the number of residential dwellings rose by 37,700 in the September quarter 2014.