Friday, March 2, 2012

Daily House Price Index

RP Data and Rismark have launched a daily house price index for Australian residential property.

"The RP Data-Rismark Daily Home Value Index aims to measure daily 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 Daily 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 the true value of movements across specific housing markets."

RP Data website and The Australian and ASX website and Press Release.  And see this interesting article by Chris Joye, who was involved in developing the index.

For Brisbane apartments, the February monthly index is 380.90, which is down 5% year on year, and up 0.55% month on month.

Looking at the daily index for the past year, for Brisbane apartments, here are some index values:
  • 1 July 2011 - 393.61
  • 1 January 2012 - 391.58
  • 1 February 2012 - 385.43
  • 29 February 2012 - 386.68
Some of the lowest values of the index for Brisbane apartments over the past 12 months are as follows:
  • 19 August 2011 - 385.66
  • 25 January 2012 - 385.14
  • 12 February 2012 - 382.57

No comments: