Using the Australian Bureau of Statistics report: “6416.0 House Price Indexes: Eight Capital Cities” as a base for Australian Median Property Price information, I have created the following chart using their “September Quarter Key Points” from each of the September reports issued from 1995 to 2010.
The report shows the annual percentage changes for each year, for the movement in Established House prices:
Year | Melbourne | Australia |
1995 | -0.3% | 11.5% |
1996 | 2.6% | 1.2% |
1997 | 8.5% | 4.3% |
1998 | 12.4% | 6.7% |
1999 | 13.4% | 7.8% |
2000 | 4.5% | 7.5% |
2001 | 30.3% | 14.0% |
2002 | 10.7% | 17.3% |
2003 | 11.6% | 17.6% |
2004 | 1.8% | 8.2% |
2005 | 1.4% | 1.0% |
2006 | 7.5% | 9.5% |
2007 | 17.8% | 10.6% |
2008 | 8.1% | 2.8% |
2009 | 8.4% | 6.2% |
2010 | 18.8% | 11.5% |
If we were to set 1994 at an index of 100, the following years property price index results would be:
Year | Melbourne | Australia |
1995 | 99.7 | 111.5 |
1996 | 102.3 | 112.8 |
1997 | 111.0 | 117.7 |
1998 | 124.7 | 125.6 |
1999 | 141.5 | 135.4 |
2000 | 147.8 | 145.5 |
2001 | 192.6 | 165.9 |
2002 | 213.2 | 194.6 |
2003 | 238.0 | 228.8 |
2004 | 242.3 | 247.6 |
2005 | 245.6 | 250.1 |
2006 | 264.1 | 273.8 |
2007 | 311.1 | 302.9 |
2008 | 336.3 | 311.4 |
2009 | 364.5 | 330.7 |
2010 | 433.0 | 368.7 |
Total change | 333% | 268.68% |
Average annual change | 9.60% | 8.50% |