Total Value of Dwellings

The preliminary estimate of the total value of residential dwellings in Australia in the June quarter 2022 was $9,983.4 billion, down $162.4 billion from $10,145.8 billion in the March quarter 2022. This is the first quarterly fall in the total value of residential dwellings since the June quarter 2020.

Of the total value of residential dwellings, $9,542.2 billion was owned by households.

The number of residential dwellings rose by 45,200 to 10,833,700, and the mean price of residential dwellings fell $18,900 to $921,500, this quarter.

In the June quarter 2022, the total value of residential dwellings fell in NSW, Victoria, Tasmania and the Australian Capital Territory.

The value of residential dwellings in NSW this quarter was $3,939.8 billion, approximately 39.5% of the total value of dwellings in Australia.

The mean price of residential dwellings in NSW fell by $46,400 to $1,177,700 during the June quarter 2022 and was the highest in the country. The second highest mean price was in the Australian Capital Territory ($991,500), followed by Victoria ($938,900). The lowest mean price ($542,100) was in the Northern Territory. 

All estimates for the current quarter are preliminary. Revisions apply to estimates for the second and third most recent quarters of the total value of dwelling stock and its components (see Revisions, under Total value of dwelling stock, in the Methodology page), and to median prices and transfers (see Revisions, under Dwelling transfer counts and median prices, in the Methodology page). Revisions to estimates for previous quarters are standard practice in these series.

The data in Table 1 and Table 2 were previously published under catalogue number 6416.0 'Residential Property Price Indexes: Eight Capital Cities'. The Residential Property Price Indexes: Eight Capital Cities publication ceased with the December quarter 2021 issue. Please see the ABS media release 'Update on the Australian Bureau of Statistics work program' for further information.