This report explores how housing values have changed across Australia between 2011 and 2025.
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The total value of Australian residential housing has increased greatly between 2011 and 2025. The value of housing stock more than doubled during this period, showing growth in property prices and an expansion of the housing market.
The trend accelerated after 2020, indicating stronger demand and rising property values across many parts of the country. This growth demonstrates how housing has become one of the country’s most significant sources of household wealth.
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The mean price of residential dwellings shows a clear upward trend over time. While housing values experienced steady growth throughout the period, the largest increases happened after the pandemic.
This trend suggests that housing affordability has become increasingly challenging for many Australians. As dwelling prices keep rising, entering the property market as a first home buyers keeps getting harder.
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Although dwelling values increased nationally, the distribution of housing wealth changes greatly across states and territories.
New South Wales and Victoria account for the largest share of Australia’s dwelling stock value, while smaller jurisdictions such as Tasmania and the Northern Territory contribute a much smaller proportion.
These differences reflect differences in population size, economic activity, housing demand and price growth across regions.
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Sydney and Melbourne have consistently recorded the highest median house prices in Australia. Both cities experienced significant growth, although Sydney generally maintained higher median values.
The chart highlights how Australia’s largest cities have driven national housing price growth and continue to dominate the property market.
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While Sydney and Melbourne often receive the most attention, other capital cities have also experienced significant housing price growth.
Brisbane, Adelaide and Perth all recorded strong increases in median house prices over the study period. This suggests that housing market growth has been widespread across Australia rather than being limited to the two largest cities.
Australia’s housing market has experienced substantial growth between 2011 and 2025. National dwelling values, average dwelling prices and median house prices all increased significantly over the time period.
The analysis also reveals important regional differences, with New South Wales and Victoria contributing the largest share of housing wealth. While property prices have continued to rise, transaction activity has fluctuated, indicating that housing markets are influenced by a range of economic factors beyond just price.
Overall, the findings demonstrate the growing importance of residential property within Australia’s economy and household wealth.
ABS. (2025, March 11). Total Value of Dwellings, March Quarter 2025 | Australian Bureau of Statistics. Www.abs.gov.au; Australian Bureau of Statistics. https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/total-value-dwellings/latest-release