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  • Definitions

    Household final consumption expenditure (HFCE)

    Household final consumption expenditure consists of expenditure by resident households on goods and services. This includes expenditure made within the domestic territory or by Australian residents abroad, and expenditure by non-profit institutions serving households (NPISH).

    Gross fixed capital formation (GFCF) on dwellings

    Gross fixed capital formation on dwellings consists of the value of acquisitions of new and existing (used) dwellings less the value of disposals of existing dwellings. It also includes the value of dwellings created by the conversion of existing non-dwelling buildings to dwellings, and the value of alterations and additions to existing dwellings.

    Ownership transfer costs

    Ownership transfer costs comprise the various fees, which are incurred by either the buyer or seller of real estate, namely legal fees on transfer, real estate sales commissions, stamp duties on transfer and other government charges (for example, the Water Board and Land Tax Office). Costs associated with acquiring and disposing of assets may be described as costs of ownership transfer.

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      Last modified: 17 Oct 2019QC 57175