The Australian Bureau of Statistics (ABS) published the residential property price indexes for eight key cities for the March quarter (Q1) on Tuesday.
Australia’s Q1 House Price Index arrived at +1.6% QoQ vs. +2.7% expected and +3.9% last.
Meanwhile, the Australian Q1 House Price Index rose by 7.4% YoY vs. +2.5% previous.
March Key Points
Capital city Residential Property Price Indexes
"Rose in Sydney (+1.9%), Melbourne (+2.1%), Brisbane (+0.6%), Perth (+0.6%), Hobart (+2.4%), Adelaide (+0.4%), Canberra (+0.2%) and Darwin (+0.7%) this quarter.
Rose in Melbourne (+10.4%), Sydney (+10.0%), Hobart (+7.0%), Canberra (+3.0%), Brisbane (+2.5%) and Adelaide (+0.9%), and fell in Darwin (-3.1%) and Perth (-0.9%), over the last twelve months."
Total value of the dwelling stock
"The total value of residential dwellings in Australia rose $141.6b to $7,237.1b this quarter.
The mean price of residential dwellings rose $10,700 to $690,200.
The number of residential dwellings rose by 43,700 to 10,485,700."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.