Turf QLD Industry Alert |ABS Residential Property Price Indexes: Eight Capital Cities, Mar 2015 (23rdJune)

ABS Residential Property Price Indexes:

Eight Capital Cities, Mar 2015 (23rdJune)

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 1.6% in the March quarter 2015. The index rose 6.9% through the year to the March quarter 2015.
• The capital city residential property price indexes rose in Sydney (+3.1%), Melbourne (+0.6%), Brisbane (+0.4%), Adelaide (+0.7%), Canberra (+1.1%) and Hobart (+0.5%) and fell in Darwin (-0.2%) and Perth (-0.1%).
• Annually, residential property prices rose in Sydney (+13.1%), Melbourne (+4.7%), Brisbane (+3.9%), Adelaide (+2.5%), Canberra (+3.0%) and Hobart (+1.9%) and fell in Darwin (-0.4%) and Perth (-0.3%).

TOTAL VALUE OF THE DWELLING STOCK

• The total value of residential dwellings in Australia was $5,468,467.9m at the end of March quarter 2015, rising $101,308.2m over the quarter.
• The mean price of residential dwellings rose $8,400 to $576,100 and the number of residential dwellings rose by 38,200 to 9,491,700 in the March quarter 2015.