Property price index September quarter 2017

The Australian Bureau of Statistics' (ABS) Property Price Index (PPI) monitors changes to residential property prices for established houses and attached dwellings (such as flats, units, apartments and terrace houses).

Property price index

Darwin's PPI decreased by 2.6 per cent in the September quarter 2017, which was the largest decline of all capital cities. Nationally, the eight capitals' weighted PPI decreased by 0.2 per cent in the same quarter.

In annual terms, Darwin's PPI declined by 6.3 per cent (Chart 1). This was the largest decline of all capital cities. Nationally, the eight capitals' weighted PPI increased by 8.3 per cent.

Established house price index

The Established House Price Index (EHPI) for Darwin decreased by 2.5 per cent in the September quarter 2017. This was the largest decline of capital cities. Nationally, the eight capitals’ weighted EHPI was unchanged in the quarter.

In annual terms, Darwin's EHPI decreased by 5.0 per cent. This was the largest decline of all the capital cities (Chart 2). Nationally, the eight capitals' weighted growth in the EHPI was 9.3 per cent.

In the September quarter 2017, the median established house price in Darwin was $495 000, which was 1.0 per cent lower than the previous quarter and 4.8 per cent lower than the same quarter in the past year.

Attached dwelling price index

Darwin's Attached Dwelling Price Index (ADPI) decreased by 2.8 per cent in the September quarter 2017. Nationally, the eight capitals’ weighted ADPI decreased by 0.8 per cent.

In annual terms, Darwin's ADPI decreased by 8.9 per cent in the September quarter 2017. This was the largest decline of all capital cities (Chart 3). The eight capitals' weighted ADPI increased by 5.1 per cent.

In the September quarter 2017, the median attached dwelling price in Darwin was $375 000, which was a decrease of 6.1 per cent from the previous quarter and 1.3 per cent lower on annual terms.