The 21300 Series in Detail: Constructs, Baselines and Positions

Tax Laws (21310). The Conveyance Duty to Dwelling Stock Ratio: 100 × stamp duties on conveyances, all states, for the financial year (ABS Taxation Revenue, Australia, Table 10) ÷ the mean of the four quarterly values of the residential dwelling stock in the same year (ABS Total Value of Dwellings, A83728646C). The ABS publishes the duty table on a rolling ten-year window, so the series joins the 2019–20 and 2024–25 releases, which agree exactly over the five years they share. 2010–11 has no denominator, because the dwelling stock series begins in September 2011. Baseline mean 0.3058%, sample standard deviation 0.0307, N 14; 2024–25 reads 0.3030%, −0.0934σ. The duty covers all property transfers while the denominator is residential, so the ratio is a trend measure and is not decomposable.

Planning Regulations & Zoning Policy (21320). The Planning System Permissiveness Ratio: other residential dwellings approved ÷ all dwellings approved, from ABS Building Approvals Table 20 (A419138J and A418403T, original, quarterly sums). Baseline 2011 to 2025: mean 0.4125, sample standard deviation 0.0525, N 60. The June quarter 2026 reads 0.3875, −0.4770σ. December quarters average about 0.36σ above the other three over the baseline; the baseline is estimated across all quarters together, and the lift is disclosed rather than adjusted.

Housing Policy (Affordable, Social) (21330). 100 × social housing dwellings, all programs, at 30 June (AIHW) ÷ all residential dwellings in the June quarter (ABS Total Value of Dwellings, A83728645A). 2012 to 2025: mean 4.2894%, sample standard deviation 0.2401, N 14. 30 June 2025 reads 3.9780%, −1.2971σ. The share has fallen in every year of the record, so a reading on this window describes a trend and sits at its low end.

Government-Owned Dwelling Delivery (21381). The equal-weight mean of two standardised shares from ABS Building Activity: the public-sector share of dwellings commenced (Table 33) and of dwellings completed (Table 37), each computed as total less private sector, over total. Baselines 2011 to 2025, N 60: commencements mean 1.7874%, standard deviation 0.6969; completions mean 2.1075%, standard deviation 1.6017. The June quarter 2026 reads 2.1892% commenced (+0.5764σ) and 2.0481% completed (−0.0371σ), +0.2697σ together. The measure counts government-owned dwellings only.

Foreign Investment Policy (21340) records, at each quarter end from March 2011, the Commonwealth application and vacancy fees, the rules on established dwellings, and each jurisdiction’s transfer duty and land tax surcharges, each dated to the instrument that set it. Headline for jurisdiction j: the duty surcharge rate plus the Commonwealth application fee on a $1,000,000 new dwelling as a share of the price. In the September quarter 2026: New South Wales 10.56%; Victoria, Queensland and Tasmania 9.56%; South Australia and Western Australia 8.56%; the Australian Capital Territory and the Northern Territory 1.56%. One figure per jurisdiction; no national figure is formed. Foreign persons have been barred from buying established dwellings since 1 April 2025, with the ban scheduled to 30 June 2029.

Banking & Lending Regulation (21350) records APRA’s settings since December 2014: the serviceability buffer (2.0 points from December 2014, 2.5 from July 2019, 3.0 from October 2021), the 7% minimum assessment rate (to July 2019), the benchmarks for investor lending growth and interest-only lending, and, from 1 February 2026, the limit of 20% of new owner-occupier and 20% of new investor lending at debt-to-income ratios of six or more. Headline: 100 × (1 − PV(assessment rate) ÷ PV(loan rate)), for a 30-year principal-and-interest loan with monthly repayments, at the average rate on new owner-occupier variable loans (RBA Table F6). June quarter 2026: 6.25% assessed at 9.25%, −25.2%. Before July 2019 no average new-loan rate is published, so the headline is NIL RETURN for those quarters and the rules are shown at reference rates instead.

Sustainability & Environmental Policies (21360): the energy and environmental requirements that apply to new homes, by jurisdiction, each dated from primary sources. Tenancy & Consumer Protection Law (21370): the rules governing residential tenancies in all eight states and territories. Both publish NIL RETURN until their registers are built.

The empirical position is the percentile rank of the reading among the periods in which all of the node’s inputs were present: the number of those periods below the reading, divided by one less than their count, times 100. It is used where there are at least 20 such periods. Below that, the position is estimated as the standard normal cumulative probability of the reading, after adjusting the reading for the correlation among the node’s inputs, and is labelled indicative. A node with a single input needs no adjustment.

No 24000-series index takes a 21300 node reading as an input, and the 21300 series forms no composite of its own. The single link runs through a register input: the level of APRA’s serviceability buffer is a standardised input to Prudential Policy Settings (24722).

• Tax Laws (21310): a mixed-scope numerator over a residential denominator; annual, N 14; the source table rolls forward, so each refresh must keep the joined history.
• Planning Regulations & Zoning Policy (21320): measures the density mix of approvals, not their volume, and not whether approved projects proceed.
• Housing Policy (Affordable, Social) (21330): annual, N 14; the denominator counts all residential dwellings, including unoccupied ones.
• Government-Owned Dwelling Delivery (21381): government-owned dwellings only; the public figure is the residual of total less private.
• Policy registers record settings, not responses to them, and their headlines move with non-policy inputs: the loan rate for 21350.