Australia House Price Index q/q measures a change in the selling prices of homes in the country in the reported quarter compared to the previous one. The index tracks changes in housing prices in Australia's eight provincial capital cities: Sydney, Melbourne, Brisbane, Adelaide, Perth, Hobart, Darwin, and Canberra.
The index covers the following types of housing: detached houses, houses with offices, houses with apartments, rural dwellings (not part of farms), townhouses, flats and apartments, i.e. all residential buildings in eight capitals, regardless of forms of ownership (public and private housing). Commercial properties are excluded from the calculation.
The index calculation is based on selling prices. The sample of residential objects is stratified according to the housing type, the median price and the socio-economic index of the region. The data for the calculation are collected from state and local government offices and real estate agents. The weights are updated at five yearly intervals to take account of changes in dwellings.
The housing market plays an important role in the Australian economy, so the property price dynamics is closely monitored by many economists and analysts. The Housing Price Index is a leading indicator of housing sector health and an indirect indicator of inflation in the country. The index growth can have a positive effect on the Australian dollar quotes.
The chart of the entire available history of the "Australia House Price Index (HPI) q/q" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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