Released today, the Australian Bureau of Statistics House Price Index figures report a glossier picture for the recent September quarter established house price averages across eight capital cities, with a smaller 1.2 per cent average dip across capitals, compared to the 2.2 per cent drop recorded in the 12 months to the September quarter.
The established house price average for the September quarter saw the greatest slide of 2.5 per cent in Brisbane, followed by Canberra (-2.0 per cent), Melbourne (-1.7 per cent), Perth (-1.3 per cent), Hobart (-1 per cent), Adelaide (-0.9 per cent), Darwin (0.4 per cent), and Sydney with the smallest drop of 0.2 per cent.
When comparing each individual capital's performance against the September quarter and the 12 months to the September quarter, Hobart is the only capital to see a greater fall in the September quarter (-1.0 per cent), compared to the annual change (-0.3 per cent).
However the comparative data also indicates that Brisbane, Adelaide, Perth and Darwin are leading the price recovery and overall house prices across capitals are demonstrating signs of strengthening.
September Key FIgures
Established house prices
June Qtr 11 to Sep Qtr 11 % change
Sep Qtr 10 to Sep Qtr 11 % change
Weighted average of eight capital cities
-1.2
-2.2
Sydney
-0.2
-0.3
Melbourne
-1.7
-2.1
Brisbane
-2.5
-5.2
Adelaide
-0.9
-3.2
Perth
-1.3
-4.2
Hobart
-1.0
-0.3
Darwin
-0.4
-4.4
Canberra
-2.0
-2.2
SOURCE: Australian Bureau of Statistics House Price Indexes: Eight Capital Cities, Sep 2011
