The total value of Australia's residential dwellings rose by $130.7 billion (1.2 per cent) to $11.4 trillion in the March quarter 2025, according to figures released today by the Australian Bureau of Statistics (ABS).
Dr Mish Tan, ABS head of finance statistics, said: 'The national mean price of residential dwellings passed $1 million for the first time in the March quarter 2025, rising 0.7 per cent to $1,002,500. Western Australia, South Australia and Queensland were the main drivers of the rise, with Queensland reaching the second highest mean price in Australia, behind New South Wales.
| Total value of dwelling stock ($b) | |
|---|---|
| Mar-20 | 7,278.1 |
| Jun-20 | 7,251.1 |
| Sep-20 | 7,469.6 |
| Dec-20 | 7,848.9 |
| Mar-21 | 8,302.3 |
| Jun-21 | 8,726 |
| Sep-21 | 9,325.8 |
| Dec-21 | 9,914.2 |
| Mar-22 | 10,094.1 |
| Jun-22 | 10,028.7 |
| Sep-22 | 9,730 |
| Dec-22 | 9,773.3 |
| Mar-23 | 9,803.4 |
| Jun-23 | 10,101.6 |
| Sep-23 | 10,252.7 |
| Dec-23 | 10,563.9 |
| Mar-24 | 10,736.1 |
| Jun-24 | 11,000.3 |
| Sep-24 | 11,053.4 |
| Dec-24 | 11,235.7 |
| Mar-25 | 11,366.4 |
'Despite the quarterly rise in national dwelling value, annual growth in the March quarter slowed to 5.9 per cent. This was down from 9.5 per cent in March quarter 2024', Dr Tan said.
Quarterly growth was seen across all states and territories, and most evident in Queensland (+1.9 per cent) and South Australia (+1.6 per cent).
| New South Wales ($'000) | Victoria ($'000) | Queensland ($'000) | South Australia ($'000) | Western Australia ($'000) | Tasmania ($'000) | Northern Territory ($'000) | Australian Capital Territory ($'000) | |
|---|---|---|---|---|---|---|---|---|
| Mar-15 | 718.2 | 581.5 | 461.6 | 414.4 | 578.4 | 312.7 | 486.8 | 586.9 |
| Jun-15 | 760.9 | 606.5 | 467.9 | 412.7 | 576 | 321.2 | 498.6 | 591.3 |
| Sep-15 | 788.1 | 616.5 | 472.6 | 418.2 | 559.6 | 321.3 | 522.2 | 593.6 |
| Dec-15 | 781.8 | 622.8 | 478.9 | 421.9 | 552.1 | 328.5 | 483.3 | 611.8 |
| Mar-16 | 779.3 | 625.4 | 473.7 | 425.4 | 542.3 | 322.3 | 489.8 | 595.6 |
| Jun-16 | 802 | 634.7 | 481.7 | 423.7 | 531.3 | 334.1 | 482 | 611.3 |
| Sep-16 | 823.7 | 646.7 | 482.7 | 424.4 | 522.2 | 338.5 | 466.5 | 611.8 |
| Dec-16 | 858.7 | 674.2 | 492.5 | 433.6 | 538.3 | 350.5 | 457.6 | 641.9 |
| Mar-17 | 885.8 | 695.6 | 494 | 439.2 | 525 | 356 | 455.2 | 644.5 |
| Jun-17 | 906.9 | 723.8 | 496.3 | 437.6 | 520.4 | 361.4 | 454 | 649.8 |
| Sep-17 | 897.9 | 717.6 | 502 | 442.5 | 521.2 | 374.7 | 452.6 | 646.9 |
| Dec-17 | 906.7 | 746.9 | 506.5 | 449.8 | 530.5 | 384.5 | 441.1 | 670.1 |
| Mar-18 | 899.8 | 743.7 | 509.5 | 452.6 | 530.2 | 398.7 | 449.1 | 674.1 |
| Jun-18 | 886.1 | 737.7 | 511.5 | 449.3 | 516.3 | 401.7 | 441.3 | 679.9 |
| Sep-18 | 868.5 | 717.4 | 516 | 451.7 | 517.6 | 410.7 | 417.1 | 674.4 |
| Dec-18 | 845.3 | 708.6 | 510.3 | 459.5 | 510.2 | 416.1 | 447.3 | 678.3 |
| Mar-19 | 825.7 | 683 | 501 | 457.8 | 506 | 411.5 | 431.5 | 670.9 |
| Jun-19 | 827.5 | 690.9 | 506.7 | 454.5 | 500.4 | 423.2 | 439.7 | 668.5 |
| Sep-19 | 863.8 | 715.5 | 514.1 | 452.8 | 503.8 | 423.7 | 439.3 | 673.7 |
| Dec-19 | 883.7 | 749.1 | 520.6 | 470.6 | 499.3 | 444.1 | 411.9 | 707 |
| Mar-20 | 895.8 | 761.2 | 524.9 | 465.3 | 501.3 | 460.1 | 415.9 | 701.1 |
| Jun-20 | 888 | 748.6 | 524.8 | 467.4 | 499.1 | 460.3 | 426.8 | 717.9 |
| Sep-20 | 912.9 | 757.3 | 541.4 | 482.3 | 523.4 | 461.6 | 420.1 | 733 |
| Dec-20 | 952.6 | 792.4 | 562.5 | 503 | 552.8 | 500.8 | 458.3 | 764 |
| Mar-21 | 1,006.1 | 831.9 | 593.1 | 519.4 | 582.3 | 546.1 | 447.1 | 818.2 |
| Jun-21 | 1,044.3 | 874.8 | 636.4 | 543.5 | 583.6 | 570.8 | 470.3 | 885.6 |
| Sep-21 | 1,148.3 | 900.9 | 674.3 | 573.6 | 596.1 | 611.7 | 484.1 | 906.7 |
| Dec-21 | 1,208.9 | 941.8 | 734.8 | 619.3 | 619.3 | 688.2 | 503.2 | 999.5 |
| Mar-22 | 1,221.2 | 942.2 | 768.8 | 645.4 | 628.4 | 694.2 | 532.3 | 983.9 |
| Jun-22 | 1,191.3 | 928.4 | 777.1 | 651.4 | 643.7 | 687 | 503.4 | 999.4 |
| Sep-22 | 1,136.2 | 901.1 | 759.3 | 649.4 | 628.4 | 677.4 | 491.4 | 946.9 |
| Dec-22 | 1,133.4 | 901.3 | 751.2 | 662.7 | 645.3 | 665.4 | 510.1 | 962.8 |
| Mar-23 | 1,129.6 | 898.4 | 757.1 | 663.3 | 653.6 | 670.3 | 517.4 | 940.8 |
| Jun-23 | 1,178.7 | 902.9 | 777.6 | 694.2 | 666.1 | 664.1 | 517.9 | 941.7 |
| Sep-23 | 1,180.8 | 904.3 | 805.2 | 707.8 | 694.6 | 660.2 | 490.1 | 947.3 |
| Dec-23 | 1,207.9 | 920.7 | 830.7 | 738.9 | 733.5 | 660.2 | 507.3 | 946.6 |
| Mar-24 | 1,217.6 | 911.8 | 858.8 | 768 | 769 | 670.1 | 530.4 | 951.8 |
| Jun-24 | 1,235.6 | 908.8 | 897.5 | 786 | 828.1 | 659.6 | 536.7 | 964.6 |
| Sep-24 | 1,232.5 | 893.2 | 914.2 | 817.6 | 839.3 | 646.7 | 501 | 962.4 |
| Dec-24 | 1,240 | 896.5 | 932 | 850.4 | 869.2 | 664.4 | 504.1 | 942.5 |
| Mar-25 | 1,245.9 | 899.7 | 944.7 | 861.9 | 874.2 | 670.2 | 517.7 | 941.3 |
