| RP Data-Rismark Home Value Index | |||
| City | Median Price ‡ |
% Change in index value, Year on year † |
|
| Sydney | $485,000 | -0.3% | |
| Melbourne | $462,500 | -6.1% | |
| Brisbane | $420,000 | -6.8% | |
| Adelaide | $370,000 | -4.4% | |
| Perth | $450 000 | -4.3% | |
| Darwin | $450,000 | -2.3% | |
| Canberra | $488,000 | -2.2% | |
| National | $450,000 | -3.6% | |
| Hobart* | $328,000 | -5.9% | |
| (*Hobart results are based on final November 2011 data; ‡ based on settled dwelling sales over quarter; † based on capital growth to December 2011) | |||
The RP Data-Rismark Home Value index is part of the suite of housing market indices produced by RP Data and Rismark International. Since being launched in 2007, the Index has established a new benchmark for measuring value changes across the Australian housing market.
The Home Value Index aims to measure month to month movements in the value of Australian housing markets. Rather than relying solely on transacted sale prices to provide a measure of housing market conditions, the RP Data-Rismark Home Value Index is based on a ‘hedonic’ methodology which includes the attributes of properties that are transacting as part of the analysis. Understanding factors such as the number of bedrooms and bathrooms, the land area and the geographic context of the property allows for a much more accurate analysis of true value movements across specific housing markets. This method also allows for compositional change in consumer buying patterns when measuring capital gains.
The Home Values Index provides monthly capital growth measurements across three broad housing types: detached houses, units and a combined dwellings index that includes both houses and units. The Index results are released on the last working day of each month and are available on a subscription basis.