The collective value of Australia’s 10.8 million residential homes has topped $10 trillion for the first time.
The Australian Bureau of Statistics said the value of dwellings rose $221.2 billion in the March quarter, lifting the total value to $10.2 trillion.
ABS head of prices statistics Michelle Marquardt said the value of homes had risen $1.8 trillion in the past year.
NSW accounts for 40.1 per cent, or $4.1 trillion, of Australia’s total value of dwellings, followed by Victoria with 26.9 per cent ($2.7 trillion) and Queensland with 16.7 per cent ($1.7 trillion).
The mean price of residential dwellings in Australia was $941,900, up from $925,300 in the December quarter 2021.
“Over the past year, growth in median prices in regional NSW and Victoria has outpaced growth in their capital cities for both houses and attached dwellings,” Ms Marquardt said.
MEDIAN HOUSE PRICES AND ANNUAL PERCENTAGE RISE
Capital city
Sydney – 16.4 per cent – $1,245,000
Melbourne – 9.4 per cent – $930,000
Brisbane – 29.3 per cent – $787,500
Adelaide – 23.8 per cent – $650,000
Perth – 1.9 per cent – $550,000
Hobart – 23.4 per cent – $753,000
Darwin – 12.1 per cent – $600,000
Canberra – 28.3 per cent – $1,065,000
Regional
NSW – 29.1 per cent – $800,300
Victoria – 17.4 per cent – $640,000
Queensland – 12.8 per cent – $530,000
SA – 18.7 per cent – $362,000
WA – 4.9 per cent – $425,000
Tasmania – 30 per cent – $520,000
NT – 2.4 per cent – $461,000
(Source – Australian Bureau of Statistics, March quarter)
