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cobran20

ABS: 6416.0 - Residential Property Price Indexes: Eight Capital Cities, Mar 2017

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MARCH KEY FIGURES
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Dec Qtr 16 to Mar Qtr 17
Mar Qtr 16 to Mar Qtr 17
RESIDENTIAL PROPERTY PRICES
% change
% change

Weighted average of eight capital cities
2.2
10.2
Sydney
3.0
14.4
Melbourne
3.1
13.4
Brisbane
0.0
3.5
Adelaide
1.5
5.0
Perth
-1.0
-3.5
Hobart
3.4
11.3
Darwin
-0.9
-5.9
Canberra
2.8
8.9

 

Total value of the dwelling stock
Mar Qtr 17

Value of dwelling stock(a) ($m)
6 602 132.3
Mean price of residential dwellings ($'000)
669.7
Number of residential dwellings ('000)
9 858.4

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(a) all sectors 

 
 




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 2.2% in the March quarter 2017. The index rose 10.2% through the year to the March quarter 2017.
  • The capital city residential property price indexes rose in Sydney (+3.0%), Melbourne (+3.1%), Adelaide (+1.5%), Canberra (+2.8%) and Hobart (+3.4%) and fell in Perth (-1.0%) and Darwin (-0.9%). Brisbane was flat (0.0%).
  • Annually, residential property prices rose in Sydney (+14.4%), Melbourne (+13.4%), Hobart (+11.3%), Canberra (+8.9%), Adelaide (+5.0%) and Brisbane (+3.5%) and fell in Darwin (-5.9%) and Perth (-3.5%).


TOTAL VALUE OF THE DWELLING STOCK
  • The total value of residential dwellings in Australia was $6,602,132.3m at the end of the March quarter 2017, rising $163,122.9m over the quarter.
  • The mean price of residential dwellings rose $13,900 to $669,700 and the number of residential dwellings rose by 39,800 to 9,858,400 in the March quarter 2017.

 

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ScreenHunter_68-Feb.-13-07.23.gif

I still regard the above as the penultimate chart in this whole home price fiasco. No wonder the baby boomers are all nearly millionaires.

It is followed closely by this one.

ScreenHunter_71-Feb.-13-07.29.gif

You can find these and more in this Macrobusiness article of 2013.

When this busts it is going to be a doozy ride down.

Edited by Solomon

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The US just had their record house prices didn't they? I only saw a headline and didn't chase it but maybe something has changed and now big physical (and therefore easily taxable) assets have just become long term popular for now?

The US crash should have scared people off for ages I'd have thought.

(or in a worst case scenario mode, maybe the sneaky stuff you can do with property has become more popular)

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