Summary: Provides estimates of changes in residential property prices in each of the eight capital cities of Australia and related statistics.The information is presented in the form of price indexes for established houses and attached dwellings as well as an aggregated residential property price index. Estimates relating to the total value of the dwelling stock and, transfer counts and medians are also provided.
December key points:
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 1.9% in the December quarter 2014. The index rose 6.8% through the year to the December quarter 2014.
- The capital city residential property price indexes rose in Sydney (+3.4%), Melbourne (+1.3%), Brisbane (+1.4%), Adelaide (+0.8%), Perth (+0.3%), Hobart (+1.0%) and Canberra (+0.2%) and fell in Darwin (-0.6%).
- Annually, residential property prices rose in Sydney (+12.2%), Brisbane (+5.3%), Melbourne (+4.5%), Adelaide (+2.5%), Hobart (+2.2%), Canberra (+1.7%), Perth (+1.2%) and Darwin (+0.8%)
Total value of the dwelling stock
- The total value of residential dwellings in Australia was $5,399,951.8m at the end of December quarter 2014, rising $124,445m over the quarter.
- The mean price of residential dwellings rose $10,900 to $571,500 and the number of residential dwellings rose by 38,000 to 9,448,300 in the December quarter 2014.