The ABS released their property price data to September 2016. It shows averaging across the states is meaningless. Prices fell hard in Darwin and Perth, but rose strongly in Sydney and Tasmania in the last quarter. The total value of residential dwellings in Australia was $6.15 trillion.
The price index for residential properties for the weighted average of the eight capital cities rose 1.5% in the September quarter 2016. The index rose 3.5% through the year to the September quarter 2016.
The capital city residential property price indexes rose in Sydney (+2.6%), Melbourne (+1.7%), Adelaide (+0.9%), Brisbane (+0.2%), Canberra (+0.8%) and Hobart (+2.3%) and fell in Perth (-1.6%) and Darwin (-1.2%).
Annually, residential property prices rose in Melbourne (+6.9%), Hobart (+6.8%), Canberra (+5.5%), Sydney (+3.2%), Adelaide (+3.2%) and Brisbane (+3.1%), and fell in Darwin (-7.2%) and Perth (-4.0%).
The total value of residential dwellings in Australia was $6,155,225.1m at the end of the September quarter 2016, rising $112,142.3m over the quarter.
The mean price of residential dwellings rose $9,000 to $631,000 and the number of residential dwellings rose by 39,300 to 9,755,400 in the September quarter 2016.
