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Australians now own $12.3 trillion (US$8.8 trillion) worth of residential real estate after the value of homes rose by $384.8 billion or 3.2 percent in the December quarter of 2025, according to figures released today by the Australian Bureau of Statistics (ABS).
The mean price of residential dwellings rose in all states and territories, led by Western Australia (7.5 percent or $70,500), Queensland (4.8 percent or $48,800) and South Australia (4.5 percent or $40,800).
Western Australia became the third state—after New South Wales and Queensland—to reach a mean house price of over $1 million. It was also an outlier in new construction, being the only state besides Tasmania not to record a decline in new home approvals in January compared with the previous month….
The mean price of residential dwellings rose in all states and territories, led by Western Australia (7.5 percent or $70,500), Queensland (4.8 percent or $48,800) and South Australia (4.5 percent or $40,800).
Western Australia became the third state—after New South Wales and Queensland—to reach a mean house price of over $1 million. It was also an outlier in new construction, being the only state besides Tasmania not to record a decline in new home approvals in January compared with the previous month….
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