ABS: Property prices fell in March quarter

Tuesday 21 June 2016

The ABS has today released its property price index – incorporating both detached houses and units – which registered a 0.2% fall in home values nationally over the March quarter and an 6.8% gain over the year, a deceleration from the 8.7% annual growth recorded in the year to December 2015.

Sydney (-0.7%), Perth (-1.7%), Darwin (2.0%) and Canberra (-0.4%) were the drags on values over the quarter, whereas Melbourne (+0.8%), Hobart (+1.1%), Adelaide (+0.5%) and Brisbane (+0.3%) were the stimulants.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.