The house price index in Australia rose by 1.6 percent quarter-on-quarter in the first three months of 2020, easing from a 3.9 percent gain in the prior period and below market expectations of a 2.7 percent increase. This was the smallest rise in the house price index since Q4 2017, as property prices advanced less in Sydney (1.9 percent vs 4.7 percent in Q4 2019), Melbourne (2.1 percent vs 5.2 percent), Brisbane (0.6 percent vs 1.8 percent), Adelaide (0.4 percent vs 1.4 percent), Perth (0.6 percent vs 1.1 percent), Hobart (2.4 percent vs 2.7 percent), and Canberra (0.2 percent vs 3.1 percent). Meanwhile, property prices rebounded in Darwin (0.7 percent vs -0.8 percent). According to ABS chief economist Bruce Hockman, the majority of restrictions relating to COVID-19 came into effect in late March and therefore did not have a noticeable impact on property prices in the March quarter. On an annual basis, prices increased 7.4 percent, after a 2.5 percent gain in the December quarter.
Housing Index in Australia averaged 1.45 percent from 2002 until 2020, reaching an all time high of 6.10 percent in the second quarter of 2002 and a record low of -3 percent in the first quarter of 2019. This page provides the latest reported value for - Australia House Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia House Price Index QoQ - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Australian Bureau of Statistics
Housing Index in Australia is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in Australia to stand at 2.00 in 12 months time. In the long-term, the Australia House Price Index QoQ is projected to trend around 2.10 percent in 2021, according to our econometric models.