The preliminary estimate of the total value of residential dwellings in Australia in the September quarter 2022 was $9,674.4 billion, down $358.9 billion from $10,033.3 billion in the June quarter 2022. This is the largest quarterly fall in the value of residential dwellings in Australia since the series commenced, in September 2011.
In the September quarter 2022, the total value of residential dwellings fell in all states and territories except the Northern Territory. The result was driven by NSW, Queensland, and Victoria.
The number of residential dwellings rose by 45,300 to 10,872,900, and the mean price of residential dwellings fell $36,800 to $889,800, this quarter.