Australia Yearbook - 2001

312 Year Book Australia 2001
8.16 PRICE INDEX NUMBERS FOR PROJECT HOMES(a)
Sydney Melbourne Brisbane Adelaide Perth Hobart Darwin Canberra
Weighted
average of
eight capital
cities
INDEX NUMBER
1997–98 112.2 108.6 112.4 113.1 102.2 123.3 137.3 123.5 110.3
1998–99 115.2 112.5 113.4 117.0 106.1 123.3 139.0 124.4 113.1
1999–00 123.1 122.0 118.2 127.2 114.8 126.2 143.2 131.9 120.7
CHANGE FROM PREVIOUS YEAR (%)
1997–98 1.6 0.8 –0.3 4.4 0.9 0.0 1.0 –0.1 1.0
1998–99 2.7 3.6 0.9 3.4 3.8 0.0 1.2 0.7 2.5
1999–00 6.9 8.4 4.2 8.7 8.2 2.4 3.0 6.0 6.7
(a) Reference base year 1989–90 = 100.0.
Source: House Price Indexes: Eight Capital Cities (6416.0).
Value of dwellings
In the 1997–98 Survey of Income and Housing
Costs, owners were asked to estimate the value of
their dwelling. These estimates may differ from
valuations made by accredited valuers or the
actual sale price of the dwelling. The extent of the
difference has not been measured. Therefore
some care needs to be exercised in the use of
these data.
The median owner-estimated value of dwellings
for capital cities was $164,000, 13% higher than
the national median ($145,200). The median
value was highest in Sydney at $251,200 and
lowest in Adelaide at $116,100 (table 8.17).
Housing finance for owner
occupation
In 1999–2000 a total of $74,930m was committed
by all lenders for the purchase of a total of
549,015 dwellings (table 8.18). The number of
commitments in 1999–2000 increased 12.5% from
the previous year, with the value of loans rising
by 21.8% as a result of an 8.3% increase in the
average borrowing size (to $136,500) over the
period. In 1999–2000, 82.0% of the money was
used to purchase or re-finance established
dwellings, 14.2% to finance construction of new
dwellings, and the remainder (3.8%) was used to
purchase newly erected dwellings.
Commitments for the construction of dwellings
rose by 3.0% in 1999–2000 to 75,684, while
commitments for the purchase of newly erected
dwellings fell by 8.0% to 18,533 for the same
period. However, established dwelling
commitments (including re-financing) increased
by 15.3% to 454,798.
8.17 VALUE OF DWELLINGS(a), By Dwelling Structure and Capital City—1997–98
Sydney Melbourne Brisbane Adelaide Perth Hobart Canberra
All
capital
cities(b)
All owner
households
MEDIAN VALUE OF DWELLINGS ($’000)
Separate house 251.8 150.0 155.4 116.9 158.1 118.1 154.4 163.9 145.7
Semi-detached/row or
terrace
house/townhouse 253.4 165.4 (c)141.5 104.0 106.8 (c)106.5 (c)135.4 168.0 140.8
Flat/unit/apartment 236.9 112.1 (c)114.2 (c)100.3 (c)94.8 (c)84.7 n.p. 161.3 153.0
All dwellings(d) 251.2 148.2 152.9 116.1 152.4 116.9 152.2 164.0 145.2
NUMBER (’000)
Dwellings 959.2 924.0 375.7 297.7 365.5 56.7 74.8 3 076.0 4 891.8
(a) As reported by owners. (b) Includes households in the Northern Territory, for which disaggregated data are not acceptable for
most purposes. (c) The estimate has a relative standard error of 25% to 50%. (d) Includes other dwellings.
Source: Unpublished data, Survey of Income and Housing Costs, 1997–98.