Australia House Price Index QoQ2002-2020 Data | 2021-2023 Forecast | Calendar

The house price index in Australia rose by 3.0 percent quarter-on-quarter in the three months to December of 2020, much faster than a 0.8 percent growth in the prior period and beating market consensus of a 2.0 percent gain. This was the steepest pace of increase in residential property prices since the fourth quarter of 2019, as the economy reopened further from the COVID-19 crisis. All capital cities recorded higher prices: Sydney (3.0 percent vs 1.0 percent in Q3) and Melbourne (3.4 percent vs -0.3 percent), Brisbane (2.7 percent vs 1.5 percent), Perth (2.9 percent), Adelaide (2.6 percent vs 1.6 percent), Canberra (3.4 percent vs 0.9 percent), Hobart (3.1 percent vs 1.2 percent), and Darwin (2.2 percent vs 0.8 percent). Through the year to the December quarter, house prices grew by 3.6 percent.

The house price index in Australia rose by 0.8 percent quarter-on-quarter in the three months to September of 2020, reversing from a 1.8 percent fall in the previous period as the economy reopened further from the COVID-19 crisis. Nearly all capital cities recorded a rise in residential property prices: Sydney (1 percent vs -2.2 percent in Q2), Brisbane (1.5 percent vs -0.9 percent), Adelaide (1.6 percent vs -0.8 percent), Perth (1.4 percent vs -0.7 percent), Hobart (1.2 percent vs -0.4 percent), Darwin (0.8 percent vs -1.4 percent) and Canberra (0.9 percent vs 0.8 percent). In contrast, house prices in Melbourne fell (-0.3 percent vs -2.3 percent). Through the year to the third quarter, prices increased by 4.5 percent in the third quarter, with all capital cities posted rises except Darwin, following a 6.2 percent gain in the June quarter.

The house price index in Australia dropped by 1.8 percent quarter-on-quarter in the three months to June of 2020, after rising 1.6 percent in the previous period and compared to market expectations of a 1 percent fall. This was the sharpest decrease in residential property prices in over a year amid the coronavirus crisis. Sydney led the declines (-2.2 percent vs 1.9 percent), followed by Melbourne (-2.3 percent vs 2.1 percent), Brisbane (-0.9 percent vs 0.6 percent), Adelaide (-0.8 percent vs 0.4 percent), Perth (-0.7 percent vs 0.6 percent), Hobart (-0.4 percent vs 2.4 percent), and Darwin (-1.4 percent vs 0.7 percent). In contrast, property prices rose further in Canberra (0.8 percent vs 0.2 percent). On an annual basis, prices increased 6.2 percent, after a 7.4 percent gain in the March quarter, with rises in all capital cities except Perth and Darwin.

The house price index in Australia rose by 1.6 percent quarter-on-quarter in the first three months of 2020, easing from a 3.9 percent gain in the prior period and below market expectations of a 2.7 percent increase. This was the smallest rise in the house price index since Q4 2017, as property prices advanced less in Sydney (1.9 percent vs 4.7 percent in Q4 2019), Melbourne (2.1 percent vs 5.2 percent), Brisbane (0.6 percent vs 1.8 percent), Adelaide (0.4 percent vs 1.4 percent), Perth (0.6 percent vs 1.1 percent), Hobart (2.4 percent vs 2.7 percent), and Canberra (0.2 percent vs 3.1 percent). Meanwhile, property prices rebounded in Darwin (0.7 percent vs -0.8 percent). According to ABS chief economist Bruce Hockman, the majority of restrictions relating to COVID-19 came into effect in late March and therefore did not have a noticeable impact on property prices in the March quarter. On an annual basis, prices increased 7.4 percent, after a 2.5 percent gain in the December quarter.