The last of the major house price data providers, the Australian Bureau of Statistics (ABS), today released their capital city house price indices for the June quarter of 2012, which reported a 0.5% increase in capital city house prices over the quarter. The result was strengthened by the fact that the March quarter’s result was revised-up. Had this revision not taken place, capital city house prices nationally would have risen by 1.6% over the quarter.
The below table and chart summarises the key movements:
Turning now to the longer-term charts, you can clearly see the divergence in house price performance between the larger and smaller capitals:
Overall, it’s a strong result. It’s also one that leaves the house price debate wide open, with two data providers – ABS and APM – reporting price rises over the June quarter, and two data providers – RP Data-Rismark and Residex – registering price falls.
Twitter: Leith van Onselen. Leith is the Chief Economist of Macro Investor, Australia’s independent investment newsletter covering trades, stocks, property and yield. Click for a free 21 day trial.
