The house price index in Australia rebounded 2.4 percent quarter-on-quarter in the three months to September 2019 after declining 0.7 percent in the previous period, easily beating market expectations of a 0.2 percent climb. It was the biggest jump in prices since the last quarter of 2016, as prices of properties increased in Sydney (3.6 percent vs -0.5 percent), Melbourne (3.6 percent vs -0.8 percent), Brisbane (0.7 percent vs -0.7 percent), and Hobart (1.3 percent vs 0.5 percent). In contrast, prices fell in Canberra (-0.5 percent vs 0.2 percent), Adelaide (-0.3 percent vs -0.6 percent), Darwin (-1.2 percent vs -1.8 percent) and Perth (-1.2 percent vs -1.4 percent). On an annual basis, prices dropped 3.7 percent after a 7.4 percent decline in the previous quarter. Housing Index in Australia averaged 1.43 percent from 2002 until 2019, reaching an all time high of 6.10 percent in the second quarter of 2002 and a record low of -3 percent in the first quarter of 2019. source: Australian Bureau of Statistics

Housing Index in Australia is expected to be -0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in Australia to stand at 1.30 in 12 months time. In the long-term, the Australia House Price Index QoQ is projected to trend around 2.10 percent in 2020, according to our econometric models.

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Australia House Price Index QoQ

Actual Previous Highest Lowest Dates Unit Frequency
2.40 -0.70 6.10 -3.00 2002 - 2019 percent Quarterly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-09-17 01:30 AM House Price Index YoY Q2 -7.4% -7.4% -4%
2019-09-17 01:30 AM House Price Index QoQ Q2 -0.7% -3% -1% -1.8%
2019-12-10 12:30 AM House Price Index YoY Q3 -3.7% -7.4% -5.4%
2019-12-10 12:30 AM House Price Index QoQ Q3 2.4% -0.7% 0.2% 0.6%
2020-03-17 12:30 AM House Price Index QoQ Q4 2.4% 0.5%


News Stream
2019-09-17
Australia Q2 Home Prices Fall the Least in a Year
House price index in Australia dropped by 0.7 percent quarter-on-quarter in the second quarter of 2019, less than market expectations of a 1.0 percent fall and following a 3.0 percent decline in the previous quarter. It was the smallest drop since Q2 of 2018, as prices of properties fell softer in most of the capital cities: Sydney (-0.5% vs -3.9%), Melbourne (-0.8% vs -3.8%), Brisbane (-0.7% vs -1.5%).In addition, prices rebounded in Canberra (0.2% vs -0.9%);Hobart (0.5% vs -0.4%). Meanwhile, prices continued to drop in Perth (-1.4% vs -1.1%),Adelaide (-0.6% vs -0.2%).Through the year to June, home prices tumbled 7.4%, unchanged from the prior quarter. "Sydney and Melbourne housing markets have seen residential property price falls moderate this quarter. A number of housing market indicators, such as auction volumes and clearance rates, have begun to show signs of improvement, though they remain below the levels seen one year earlier," said ABS Chief Economist, Bruce Hockman.

2019-06-18
Australia Q1 Home Prices Drop the most on Record
House price index in Australia dropped by 3 percent quarter-on-quarter in the three months to March of 2019, worse than market expectations of a 2.5 percent fall and following a 2.4 percent decrease in the previous quarter. It was the biggest decline on record, as prices of properties fell in all capital cities: Sydney (-3.9 percent), Melbourne (-3.8 percent), Brisbane (-1.5 percent), Darwin (-1.8 percent), Perth (-1.1 percent), Canberra (-0.9 percent), Hobart (-0.4 percent), and Adelaide (-0.2 percent). Through the year to March, home prices prices slumped 7.4 percent, after falling 5.1 percent in the prior quarter. "These results are in line with soft housing market indicators, with sales transactions and auction clearance rates lower than one year ago, and days on market trending higher," said ABS Chief Economist, Bruce Hockman.

2019-03-19
Australia House Prices Fall More than Expected
House price index in Australia dropped by 2.4 percent quarter-on-quarter in the three months to December of 2018, further down from a 1.5 percent fall in the previous quarter and compared to market expectations of a 2 percent drop. It was the fourth straight quarter of decline, as prices dropped in six cities: Sydney (-3.7 percent); Melbourne (-2.4 percent); Perth (-1.0 percent); Darwin (-0.6 percent); Canberra (-0.2 percent), and Brisbane (-1.1 percent). In contrast, prices rose in Adelaide (0.1 percent) and Hobart (0.7 percent). On a yearly basis, prices dropped 5.1 percent, after falling 1.9 percent in the prior period and above market consensus of a 0.4 percent decline.


Australia House Price Index QoQ
In Australia, House Price Index measures weighted average of price movements for residential properties for eight capital cities: Sydney, Melbourne, Brisbane, Adelaide, Canberra, Hobart, Darwin and Perth. Residential properties are defined as detached residential dwellings on their own block of land regardless of age. .

Australia Housing Last Previous Highest Lowest Unit
Building Permits 11.80 -7.90 31.90 -22.70 percent [+]
New Home Sales 4374.00 4576.00 20768.00 4035.00 Units [+]
Housing Index 2.40 -0.70 6.10 -3.00 percent [+]
Home Loans 18593.60 18273.40 22321.20 9745.10 [+]
Home Ownership Rate 65.00 67.00 71.40 65.00 percent [+]
Construction Output -0.40 -2.80 17.90 -18.90 percent [+]
Construction Pmi 38.90 40.00 60.50 29.24 points [+]