Total Value of Dwellings

Latest release

Estimates of the total value, number and mean price of Australia's dwellings, as well as median prices and counts of residential property transfers

Reference period

September Quarter 2024

Released

3/12/2024

Key statistics

The total value of residential dwellings in Australia rose by $156.3 billion to $11,093.8 billion this quarter.
The number of residential dwellings rose by 53,100 to 11,252,600 this quarter.
The mean price of residential dwellings rose by $9,300 to $985,900 this quarter.

Total value of dwelling stock

Total value of dwelling stock, Australia
	Total value of dwelling stock
Sep-19	6,951.4
Dec-19	7,170.8
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	10,937.6
Sep-24	11,093.8

Total value of dwelling stock, Australia

[" ","Total value of dwelling stock"]

[["Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[6951.3999999999996],[7170.8000000000002],[7278.1000000000004],[7251.1000000000004],[7469.6000000000004],[7848.8999999999996],[8302.2999999999993],[8726],[9325.7999999999993],[9914.2000000000007],[10094.1],[10028.700000000001],[9730],[9773.2999999999993],[9803.3999999999996],[10101.6],[10252.700000000001],[10563.9],[10736.1],[10937.6],[11093.799999999999]]]

[]

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The preliminary estimate of the total value of residential dwellings in Australia in the September quarter 2024 was $11,093.8 billion, up $156.3 billion from $10,937.6 billion in the June quarter 2024.

This is the first time that the total value of residential dwellings has surpassed $11 trillion.

Of the total value of residential dwellings, $10,657.1 billion was owned by households.

The September quarter 2024 saw mixed results across the states and territories, with the total value of residential dwellings rising in New South Wales (+0.9%), Queensland (+2.9%), South Australia (+4.1%) and Western Australia (+5.0%) and falling in Victoria (-0.6%), Tasmania (-0.2%), Northern Territory (-0.4%) and in the Australian Capital Territory (-0.2%).

The number of residential dwellings in Australia rose by 53,100 to 11,252,600, and the mean price of residential dwellings rose by $9,300 to $985,900, this quarter.

Mean dwelling price

Mean dwelling price, states and territories
	Mar-24 ($'000)	Jun-24 ($'000)	Sep-24 ($'000)
NSW	1,217.6	1,228	1,233.6
VIC	911.8	900.6	890.3
QLD	858.8	894.3	915.7
SA	768	785.7	815.5
WA	769	825.9	863.9
TAS	670.1	656.1	652.7
NT	530.4	534.8	531.1
ACT	951.8	960.2	951.8
Australia	962.1	976.6	985.9

Mean dwelling price, states and territories

["","Mar-24","Jun-24","Sep-24"]

[["NSW","VIC","QLD","SA","WA","TAS","NT","ACT","Australia"],[[1217.5999999999999],[911.79999999999995],[858.79999999999995],[768],[769],[670.10000000000002],[530.39999999999998],[951.79999999999995],[962.10000000000002]],[[1228],[900.60000000000002],[894.29999999999995],[785.70000000000005],[825.89999999999998],[656.10000000000002],[534.79999999999995],[960.20000000000005],[976.60000000000002]],[[1233.5999999999999],[890.29999999999995],[915.70000000000005],[815.5],[863.89999999999998],[652.70000000000005],[531.10000000000002],[951.79999999999995],[985.89999999999998]]]

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The mean price of residential dwellings in New South Wales ($1,233,600) remains the highest in the country, followed by the Australian Capital Territory ($951,800). Queensland ($915,700) now has the third largest mean price in the country, while the lowest mean price remains in the Northern Territory ($531,100).

Revisions and Changes

Revisions

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.

Previous catalogue number

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.

Data downloads

Time Series Spreadsheets

Table 1. Total value of dwellings, all series

Data files

Download xlsx [73.91 KB]

Table 2. Median price and number of transfers (capital city and rest of state)

Data files

Download xlsx [101.26 KB]

Methodology

Total Value of Dwellings methodology, September Quarter 2024

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