Average value of an Australian home nears $1 million


The average value of an Australian home hit a record $959,300 in the March quarter, according to data released on Tuesday by the Australian Bureau of Statistics (ABS):

Average value of Australian dwellings

NSW (Sydney) remains by far the most expensive jurisdiction in Australia, with an average dwelling value of $1,212,000 in the March quarter.

By contrast, the Northern Territory has the nation’s cheapest homes, with the average dwelling valued at $511,400.


Meanwhile, the total value of Australia’s dwelling stock rose to $10,721 billion in the March quarter. This was up $209.4 billion from the December quarter.

Total value of Australia's dwelling stock

Australia has become a gigantic housing market with an economy attached.


What is the point of an economy if the typical Australian cannot afford a home? Is this the society that we want?

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.