The total value of Australia’s residential dwellings rose by $221.2 billion in the March quarter 2022, according to figures released today by the Australian Bureau of Statistics (ABS). This brought the total value of Australia’s 10.8 million dwellings to $10.2 trillion for the first time.
Michelle Marquardt, head of Prices Statistics at the ABS, said: “The total value of residential dwellings rose $1.8 trillion in the 12 months to the March quarter 2022 from $8.4 trillion in the March quarter 2021.”
NSW accounted 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 ($1.7 trillion).
| Total value of dwelling stock, Australia ($m) | |
|---|---|
| Sep-11 | 4,418,854 |
| Dec-11 | 4,400,528.1 |
| Mar-12 | 4,428,147.6 |
| Jun-12 | 4,456,988.8 |
| Sep-12 | 4,439,837.5 |
| Dec-12 | 4,550,517.2 |
| Mar-13 | 4,607,351.1 |
| Jun-13 | 4,688,260.2 |
| Sep-13 | 4,774,137 |
| Dec-13 | 4,953,517.2 |
| Mar-14 | 5,031,590.7 |
| Jun-14 | 5,128,396.2 |
| Sep-14 | 5,211,699.8 |
| Dec-14 | 5,384,354.8 |
| Mar-15 | 5,509,533 |
| Jun-15 | 5,738,405 |
| Sep-15 | 5,874,140.1 |
| Dec-15 | 5,916,230 |
| Mar-16 | 5,919,674.3 |
| Jun-16 | 6,055,430.4 |
| Sep-16 | 6,178,718.9 |
| Dec-16 | 6,441,224.4 |
| Mar-17 | 6,601,671.7 |
| Jun-17 | 6,771,343.5 |
| Sep-17 | 6,779,347.8 |
| Dec-17 | 6,946,229.3 |
| Mar-18 | 6,957,246.1 |
| Jun-18 | 6,920,978.3 |
| Sep-18 | 6,860,065.3 |
| Dec-18 | 6,788,971.4 |
| Mar-19 | 6,656,041.1 |
| Jun-19 | 6,720,484.5 |
| Sep-19 | 6,951,369.8 |
| Dec-19 | 7,170,832.2 |
| Mar-20 | 7,278,072.7 |
| Jun-20 | 7,251,093.3 |
| Sep-20 | 7,487,531.1 |
| Dec-20 | 7,886,460.5 |
| Mar-21 | 8,360,913.5 |
| Jun-21 | 8,807,771.4 |
| Sep-21 | 9,433,076.1 |
| Dec-21 | 9,952,366.5 |
| Mar-22 | 10,173,551 |
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.
The median house price in Sydney rose by 16.4 per cent to $1,245,000, and by 9.4 per cent to $930,000 in Melbourne, over the 12 months to the March quarter 2022. Meanwhile, in regional NSW, the median house price increased 29.1 per cent to $800,300, and the Victorian regions saw a rise of 17.4 per cent to $640,000.
| March Qtr 2021 – 2022 | March Qtr 2022 | March Qtr 2021 – 2022 | March Qtr 2022 | ||
|---|---|---|---|---|---|
| Capital city | Annual change (%) | Median house price ($) | Regional (a) | Annual change (%) | Median house price ($) |
| Sydney | 16.4 | 1,245,000 | New South Wales | 29.1 | 800,300 |
| Melbourne | 9.4 | 930,000 | Victoria | 17.4 | 640,000 |
| Brisbane | 29.3 | 787,500 | Queensland | 12.8 | 530,000 |
| Adelaide | 23.8 | 650,000 | South Australia | 18.7 | 362,000 |
| Perth | 1.9 | 550,000 | Western Australia | 4.9 | 425,000 |
| Hobart | 23.4 | 753,000 | Tasmania | 30.0 | 520,000 |
| Darwin | 12.1 | 600,000 | Northern Territory | 2.4 | 461,000 |
| Canberra | 28.3 | 1,065,000 |
- Rest of State or Territory, outside of the capital city
