Average Australian dwelling price reaches $1 million

Media Release

Released

10/06/2025

Source

Total Value of Dwellings, March Quarter 2025

The total value of Australia’s residential dwellings rose by $130.7 billion (1.2 per cent) to $11.4 trillion in the March quarter 2025, according to figures released today by the Australian Bureau of Statistics (ABS).

Dr Mish Tan, ABS head of finance statistics, said: ‘The national mean price of residential dwellings passed $1 million for the first time in the March quarter 2025, rising 0.7 per cent to $1,002,500. Western Australia, South Australia and Queensland were the main drivers of the rise, with Queensland reaching the second highest mean price in Australia, behind New South Wales.

Total value of dwelling stock, Australia
	Total value of dwelling stock ($b)
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	11,000.3
Sep-24	11,053.4
Dec-24	11,235.7
Mar-25	11,366.4

Total value of dwelling stock, Australia

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

[["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","Dec-24","Mar-25"],[[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],[11000.299999999999],[11053.4],[11235.700000000001],[11366.4]]]

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‘Despite the quarterly rise in national dwelling value, annual growth in the March quarter slowed to 5.9 per cent. This was down from 9.5 per cent in March quarter 2024’, Dr Tan said.

Quarterly growth was seen across all states and territories, and most evident in Queensland (+1.9 per cent) and South Australia (+1.6 per cent).

Mean dwelling price, states and territories
	New South Wales ($'000)	Victoria ($'000)	Queensland ($'000)	South Australia ($'000)	Western Australia ($'000)	Tasmania ($'000)	Northern Territory ($'000)	Australian Capital Territory ($'000)
Mar-15	718.2	581.5	461.6	414.4	578.4	312.7	486.8	586.9
Jun-15	760.9	606.5	467.9	412.7	576	321.2	498.6	591.3
Sep-15	788.1	616.5	472.6	418.2	559.6	321.3	522.2	593.6
Dec-15	781.8	622.8	478.9	421.9	552.1	328.5	483.3	611.8
Mar-16	779.3	625.4	473.7	425.4	542.3	322.3	489.8	595.6
Jun-16	802	634.7	481.7	423.7	531.3	334.1	482	611.3
Sep-16	823.7	646.7	482.7	424.4	522.2	338.5	466.5	611.8
Dec-16	858.7	674.2	492.5	433.6	538.3	350.5	457.6	641.9
Mar-17	885.8	695.6	494	439.2	525	356	455.2	644.5
Jun-17	906.9	723.8	496.3	437.6	520.4	361.4	454	649.8
Sep-17	897.9	717.6	502	442.5	521.2	374.7	452.6	646.9
Dec-17	906.7	746.9	506.5	449.8	530.5	384.5	441.1	670.1
Mar-18	899.8	743.7	509.5	452.6	530.2	398.7	449.1	674.1
Jun-18	886.1	737.7	511.5	449.3	516.3	401.7	441.3	679.9
Sep-18	868.5	717.4	516	451.7	517.6	410.7	417.1	674.4
Dec-18	845.3	708.6	510.3	459.5	510.2	416.1	447.3	678.3
Mar-19	825.7	683	501	457.8	506	411.5	431.5	670.9
Jun-19	827.5	690.9	506.7	454.5	500.4	423.2	439.7	668.5
Sep-19	863.8	715.5	514.1	452.8	503.8	423.7	439.3	673.7
Dec-19	883.7	749.1	520.6	470.6	499.3	444.1	411.9	707
Mar-20	895.8	761.2	524.9	465.3	501.3	460.1	415.9	701.1
Jun-20	888	748.6	524.8	467.4	499.1	460.3	426.8	717.9
Sep-20	912.9	757.3	541.4	482.3	523.4	461.6	420.1	733
Dec-20	952.6	792.4	562.5	503	552.8	500.8	458.3	764
Mar-21	1,006.1	831.9	593.1	519.4	582.3	546.1	447.1	818.2
Jun-21	1,044.3	874.8	636.4	543.5	583.6	570.8	470.3	885.6
Sep-21	1,148.3	900.9	674.3	573.6	596.1	611.7	484.1	906.7
Dec-21	1,208.9	941.8	734.8	619.3	619.3	688.2	503.2	999.5
Mar-22	1,221.2	942.2	768.8	645.4	628.4	694.2	532.3	983.9
Jun-22	1,191.3	928.4	777.1	651.4	643.7	687	503.4	999.4
Sep-22	1,136.2	901.1	759.3	649.4	628.4	677.4	491.4	946.9
Dec-22	1,133.4	901.3	751.2	662.7	645.3	665.4	510.1	962.8
Mar-23	1,129.6	898.4	757.1	663.3	653.6	670.3	517.4	940.8
Jun-23	1,178.7	902.9	777.6	694.2	666.1	664.1	517.9	941.7
Sep-23	1,180.8	904.3	805.2	707.8	694.6	660.2	490.1	947.3
Dec-23	1,207.9	920.7	830.7	738.9	733.5	660.2	507.3	946.6
Mar-24	1,217.6	911.8	858.8	768	769	670.1	530.4	951.8
Jun-24	1,235.6	908.8	897.5	786	828.1	659.6	536.7	964.6
Sep-24	1,232.5	893.2	914.2	817.6	839.3	646.7	501	962.4
Dec-24	1,240	896.5	932	850.4	869.2	664.4	504.1	942.5
Mar-25	1,245.9	899.7	944.7	861.9	874.2	670.2	517.7	941.3

Mean dwelling price, states and territories

["","New South Wales","Victoria","Queensland","South Australia","Western Australia","Tasmania","Northern Territory","Australian Capital Territory"]

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],[455.19999999999999],[454],[452.60000000000002],[441.10000000000002],[449.10000000000002],[441.30000000000001],[417.10000000000002],[447.30000000000001],[431.5],[439.69999999999999],[439.30000000000001],[411.89999999999998],[415.89999999999998],[426.80000000000001],[420.10000000000002],[458.30000000000001],[447.10000000000002],[470.30000000000001],[484.10000000000002],[503.19999999999999],[532.29999999999995],[503.39999999999998],[491.39999999999998],[510.10000000000002],[517.39999999999998],[517.89999999999998],[490.10000000000002],[507.30000000000001],[530.39999999999998],[536.70000000000005],[501],[504.10000000000002],[517.70000000000005]],[[586.89999999999998],[591.29999999999995],[593.60000000000002],[611.79999999999995],[595.60000000000002],[611.29999999999995],[611.79999999999995],[641.89999999999998],[644.5],[649.79999999999995],[646.89999999999998],[670.10000000000002],[674.10000000000002],[679.89999999999998],[674.39999999999998],[678.29999999999995],[670.89999999999998],[668.5],[673.70000000000005],[707],[701.10000000000002],[717.89999999999998],[733],[764],[818.20000000000005],[885.60000000000002],[906.70000000000005],[999.5],[983.89999999999998],[999.39999999999998],[946.89999999999998],[962.79999999999995],[940.79999999999995],[941.70000000000005],[947.29999999999995],[946.60000000000002],[951.79999999999995],[964.60000000000002],[962.39999999999998],[942.5],[941.29999999999995]]]

[]

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Further details can be found in Total Value of Dwellings, available for free download from the ABS website.

Media notes

The value and price of residential dwellings includes any land.
Estimates for the current quarter are preliminary. Revisions are generally applied to the second and third most recent quarters (see Revisions, under Total value of dwelling stock, in the Methodology).
When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
For media requests and interviews, contact the ABS Media Team on 1300 175 070 or media@abs.gov.au (monitored 9am-5pm Canberra time, Monday-Friday).
Watch our data crash course, designed especially for journalists to learn how to find, download and interpret our data.

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Average Australian dwelling price reaches $1 million

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