Property Indices Map
All Dwellings 690.52
All Dwellings 505.90
All Dwellings 876.92
All Dwellings 707.25
All Dwellings 454.05
All Dwellings 615.51
|ASX Property Index||Index Value for 04/05/2015||Gross Rental Yield for 04/05/2015|
|5 Capital City Aggregate||690.52||3.7003%|
|Adelaide All Dwellings||454.05||4.2340%|
|Brisbane All Dwellings||505.90||4.6228%|
|Melbourne All Dwellings||707.25||3.2892%|
|Perth All Dwellings||615.51||4.0548%|
|Sydney All Dwellings||876.92||3.5306%|
RP Data and Rismark International ("Rismark") have developed a suite of Australian home value indices which provide daily capital value change measurement. The index results are released daily for Sydney, Melbourne, Brisbane (including Gold Coast), Adelaide, Perth and Australia (which is a composite of these cities).
The indices are calculated using a hedonic methodology. The hedonic approach to price index construction accounts for the components contributing to a product's price. In the case of a residential property these components include the number of bedrooms and bathrooms, location, size, and other attributes. By separating each property comprising the index into its various formational and locational attributes, differing observed sales values for each property can be separated into those associated with varying attributes and those resulting from changes in the underlying residential property market.. Also, by understanding the value associated with each attribute of a given property, this methodology can be used to impute the value of dwellings having a certain set of characteristics (but no current sales price) by observing the sales prices and characteristics of other dwellings that do have recent sales prices. It then follows that changes in the market value of the stock of residential property comprising an index can be accurately tracked through time.
Understanding how compositional factors impact a property's price allows for a much more accurate analysis of the true value movements across specific property markets. When measuring changes in market value, the hedonic method also addresses bias which may otherwise result from changes in the compositional of homes transacting from one period to another as home owner buying patterns change.
The indices have been specifically designed to track daily value changes in the Australian residential property market and are constructed using the latest possible property sales information thereby avoiding the 6 to 8 week reporting lags present in other property indices. These property indices therefore offer significant portfolio tracking and information timeliness advantages over other property index construction methods.
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