Perth, March 10: Australia’s total residential dwellings value has hit $12.3 trillion for the first time after rising by $384.8 billion, or 3.2 per cent, in the December quarter of 2025, according to the Australian Bureau of Statistics.
The ABS said the increase was driven by higher property prices, with the national mean dwelling price rising 2.7 per cent to $1.07 million.
Dr Mish Tan, ABS head of finance statistics said: ‘After 13 quarters of uninterrupted growth since September 2022, the total value of dwellings has surpassed $12 trillion for the first time. December quarter’s growth was driven by rising property prices, as the national mean dwelling price increased 2.7 percent to $1.07 million.’
Mean dwelling prices rose across all states and territories during the quarter, with the strongest gains recorded in Western Australia, Queensland and South Australia. Western Australia led the nation with quarterly growth of 7.5 per cent, or $70,500, followed by Queensland at 4.8 per cent, or $48,800, and South Australia at 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. This quarter, Western Australia became the third state after New South Wales and Queensland to have a mean dwelling price of over $1 million’, Dr Tan said.
The ABS noted that residential dwelling values include land and that current quarter estimates are preliminary.
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