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Tuesday, 8 November 1977
Page: 3122

Mr Neil asked the Treasurer, upon notice, on 2 November 1977:

(   1 ) Does the consumer price index take into account home repayments to financial institutions, or does it only include a measure of the initial purchasing price of homes.

(2)   To what extent have either of these measures of price movement risen or fallen in comparison with the total CPI.

Mr Lynch -The following reply has been provided to the honourable member's question:

(1)   The consumer price index does not include home repayments to financial institutions. The house price component of the index measures changes in the prices of new houses.

(2)   During the period 1966-67 to 1976-77, for the weighted average of six State capital cities, the house price component of the CPI showed a price increase of 154.8 per cent compared with an increase of 120.0 per cent in the CPI All Groups index.

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