ABS: Property prices fell 0.7% in Q1

Tuesday 19 June 2018

The ABS has released its property price index – incorporating both detached houses and units – which registered a 0.7% decline in home values nationally over the March quarter but a 2.0% gain over the year, a sharp slowing from the 5.0% annual growth initially reported in the year to December:

Sydney (-1.2%), Melbourne (-0.6%), Brisbane (-0.6%), Perth (-0.9%), and Darwin (-1.1%) recorded quarterly declines in values, whereas values rose in Adelaide (+0.5%), Hobart (+4.3%) and Canberra (+0.9%).

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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.