The total value of Australia’s residential dwellings rose by $384.8 billion or 3.2 per cent to $12.3 trillion in the December quarter 2025, according to figures released today by the Australian Bureau of Statistics (ABS).
Dr Mish Tan, ABS head of finance statistics said: ‘After 13 quarters of uninterrupted growth since September 2022, the total value of dwellings has surpassed $12 trillion for the first time. December quarter’s growth was driven by rising property prices, as the national mean dwelling price increased 2.7 percent to $1.07 million.’
The mean price of residential dwellings rose in all states and territories this quarter, with growth most evident in Western Australia (7.5 per cent or $70,500), Queensland (4.8 per cent or $48,800) and South Australia (4.5 per cent or $40,800).
‘Annually, dwelling prices in Western Australia have risen faster than any other state or territory, rising 16.8 per cent to $1.01 million since December quarter 2024. This quarter, Western Australia became the third state after New South Wales and Queensland to have a mean dwelling price of over $1 million’, Dr Tan said.
| Total Value (RHS) ($b) | Quarterly Change (LHS) (%) | |
|---|---|---|
| Dec-20 | 7,848.9 | 5.1 |
| Mar-21 | 8,302.3 | 5.8 |
| Jun-21 | 8,726.0 | 5.1 |
| Sep-21 | 9,325.8 | 6.9 |
| Dec-21 | 9,914.2 | 6.3 |
| Mar-22 | 10,094.1 | 1.8 |
| Jun-22 | 10,028.7 | -0.6 |
| Sep-22 | 9,730.0 | -3.0 |
| Dec-22 | 9,773.3 | 0.4 |
| Mar-23 | 9,803.4 | 0.3 |
| Jun-23 | 10,101.6 | 3.0 |
| Sep-23 | 10,252.7 | 1.5 |
| Dec-23 | 10,563.9 | 3.0 |
| Mar-24 | 10,736.1 | 1.6 |
| Jun-24 | 11,000.3 | 2.5 |
| Sep-24 | 11,053.4 | 0.5 |
| Dec-24 | 11,319.5 | 2.4 |
| Mar-25 | 11,409.4 | 0.8 |
| Jun-25 | 11,696.7 | 2.5 |
| Sep-25 | 11,922.4 | 1.9 |
| Dec-25 | 12,307.2 | 3.2 |
| State | NSW (%) | VIC (%) | QLD (%) | SA (%) | WA (%) | TAS (%) | NT (%) | ACT (%) | AUS (%) |
|---|---|---|---|---|---|---|---|---|---|
| 3.6 | 3.4 | 13.9 | 10.6 | 16.8 | 5.0 | 15.1 | 3.0 | 7.2 |
