The value of Australia’s homes jumped in the first months of 2023, according to data released this week by the Australian Bureau of Statistics.
The figures show that the total value of residential dwellings in Australia rose by $140 billion to $9,874.7 billion during the March quarter.
The value rose in all states and territories except Tasmania, Northern Territory and the Australian Capital Territory.
The number of dwellings in Australia rose by 52,000 to 11,020,300, with the mean price rising by $8,500 to $896,000.
The mean price of homes in NSW ($1,150,400) remains the highest in the country, followed by the ACT ($951,800) and Victoria ($898,300). The lowest mean price is in the Northern Territory ($502,100).
Of the total value of residential dwellings, $9,487.2 billion was owned by households.
