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According to the latest data released by the Australian Bureau of Statistics (ABS), the combined value of homes across Australia has surged to a staggering $12.3 trillion. This development follows a notable 3.2 percent increase during the December 2025 quarter.
Among the states, Western Australia experienced the most significant rise, with the average value of dwellings increasing by $70,500. This substantial growth has propelled the state into the esteemed “million-dollar club,” joining New South Wales and Queensland, where the average property price now exceeds $1 million.
In the Northern Territory, the mean price of homes saw a remarkable 15.1 percent increase. Meanwhile, Queensland’s property market also demonstrated robust growth, with an impressive 13.9 percent rise in mean dwelling prices.
In the last quarter, Queensland homes experienced an average price hike of 4.8 percent. South Australia wasn’t far behind, as property prices there climbed by 4.5 percent, translating to an increase of $40,800 on average.
Homes in Queensland saw an average 4.8 per cent hike in the last quarter, while South Australian prices weren’t far behind, rising 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,” ABS financial statistics head Dr Mish Tan said.
The ACT saw the slowest annual growth at three per cent, while Melbourne and Sydney prices also slowed, increasing 3.4 and 3.6 per cent in the year to December 2025, respectively.
The national average dwelling price growth was 7.2 per cent
Tan said the nation’s housing market has grown without interruption since September 2022.
The most recent quarter saw the largest growth in those three years.
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