Estimates of the total value, number and mean price of Australia's dwellings, as well as median prices and counts of residential property transfers
The preliminary estimate of the total value of residential dwellings in Australia in the December quarter 2022 was $9,615.0 billion, down $271.5 billion from $9,886.5 billion in the September quarter 2022.
Of the total value of residential dwellings, $9,187.5 billion was owned by households.
In the December quarter 2022, the total value of residential dwellings fell in all states and territories except WA and the Northern Territory.
The number of residential dwellings in Australia rose by 45,500 to 10,911,000, and the mean price of residential dwellings fell $28,700 to $881,200, this quarter.
The mean price of residential dwellings in NSW ($1,130,500) remains the highest in the country, followed by the ACT ($929,200) and Victoria ($894,400). The lowest mean price is in the Northern Territory ($488,200). WA was the only state not to see a fall in the mean price of residential dwellings.
All estimates for the current quarter are preliminary. Revisions apply to estimates for the second and third most recent quarters of the total value of dwelling stock and its components (see Revisions, under Total value of dwelling stock, in the Methodology page), and to median prices and transfers (see Revisions, under Dwelling transfer counts and median prices, in the Methodology page). Revisions to estimates for previous quarters are standard practice in these series.
The data in Table 1 and Table 2 were previously published under catalogue number 6416.0 'Residential Property Price Indexes: Eight Capital Cities'. The Residential Property Price Indexes: Eight Capital Cities publication ceased with the December quarter 2021 issue. Please see the ABS media release 'Update on the Australian Bureau of Statistics work program' for further information.