The Latest ABS House Price Data- Pete Wargent

The ABS released its residential property price indices for the March 2014 quarter today here.

The capital city residential property price indexes rose in the quarter in all capital cities except for Canberra.

Prices rose in Sydney (+2.3%), Melbourne (+2.1%), Perth (+1.1%), Brisbane (+0.8%), Adelaide (+0.7%), Hobart (+1.4%), Darwin (+1.1%) but fell in Canberra (-0.1%).

Not surprisingly, then, Sydney’s property market remains the strongest of the capital cities:

Annually, residential property prices rose in all 8 capital cities due to the prevailing low interest rate environment.

Prices rose in Sydney (+15.7%), Melbourne (+10.9%), Perth (+7.3), Brisbane (+6.1%), Adelaide (+4.9%), Hobart (+4.8%), Darwin (+4.1%), and Canberra (+1.1%).

On an annual basis, therefore, Sydney was also the strongest property market (click chart):

The total value of residential dwellings in Australia was $5,100,821.0 million ($5.1 trillion) at the end of March quarter 2014, after rising by $105,348.0 million over the three month period.

The mean price of residential dwellings rose $9,100 and the number of residential dwellings rose by 37,400 in the March quarter 2014 to 9,333,700.

As the ABS now also provides a more detailed split of data, there is a little more analysis to do here.

Also out today was the Housing Finance data, so there’s a bit more to follow…

[post_ender]



Want more of this type of information?


Pete Wargent

About

Pete Wargent is a Chartered Accountant, Chartered Secretary and has a Financial Planning Diploma. He’s achieved financial freedom at the age of 33 - as detailed in his book ‘Get a Financial Grip – A Simple Plan for Financial Freedom’. Pete now manages his investment portfolio, travels and works as a consultant in the finance industry from time to time. Visit his blog


'The Latest ABS House Price Data- Pete Wargent' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*

0
0

Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!