The average price of Australian residential property has risen over the past ten years, and in June 2024, it reached a new high of 973.3 thousand Australian dollars. Nonetheless, property experts in Australia have indicated that the country has been in a property bubble over the past decade, with some believing the market will collapse sometime in the near future. Property prices started declining in 2022; nonetheless, gradual price rises were witnessed throughout 2023.
Average price of residential dwellings in Australia from June 2014 to June 2024
(in 1,000 Australian dollars)
Characteristic
Average value in thousand Australian dollars
Jun-2024*
973.3
Mar-2024*
957.7
Dec-2023*
949.4
Sep-2023
925.2
Jun-2023
914.9
Mar-2023
890.9
Dec-2022
891
Sep-2022
890.5
Jun-2022
921.2
Mar-2022
930.6
Dec-2021
916.8
Sep-2021
865.7
Jun-2021
813.9
Mar-2021
778.3
Dec-2020
738.9
Sep-2020
706.7
Jun-2020
689.4
Mar-2020
694.7
Dec-2019
686.8
Sep-2019
668.8
Jun-2019
649.3
Mar-2019
646
Dec-2018
661.4
Sep-2018
671.7
Jun-2018
681.1
Mar-2018
688
Dec-2017
689.7
Sep-2017
676.4
Jun-2017
678.8
Mar-2017
665
Dec-2016
651.6
Sep-2016
628.6
Jun-2016
619.5
Mar-2016
609.3
Dec-2015
611.6
Sep-2015
611
Jun-2015
600.1
Mar-2015
579.3
Dec-2014
568.7
Sep-2014
553.5
Jun-2014
547.5
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Australian Bureau of Statistics. (September 10, 2024). Average price of residential dwellings in Australia from June 2014 to June 2024 (in 1,000 Australian dollars) [Graph]. In Statista. Retrieved October 06, 2024, from https://www.statista.com/statistics/1030525/australia-residential-property-value/
Australian Bureau of Statistics. "Average price of residential dwellings in Australia from June 2014 to June 2024 (in 1,000 Australian dollars)." Chart. September 10, 2024. Statista. Accessed October 06, 2024. https://www.statista.com/statistics/1030525/australia-residential-property-value/
Australian Bureau of Statistics. (2024). Average price of residential dwellings in Australia from June 2014 to June 2024 (in 1,000 Australian dollars). Statista. Statista Inc.. Accessed: October 06, 2024. https://www.statista.com/statistics/1030525/australia-residential-property-value/
Australian Bureau of Statistics. "Average Price of Residential Dwellings in Australia from June 2014 to June 2024 (in 1,000 Australian Dollars)." Statista, Statista Inc., 10 Sep 2024, https://www.statista.com/statistics/1030525/australia-residential-property-value/
Australian Bureau of Statistics, Average price of residential dwellings in Australia from June 2014 to June 2024 (in 1,000 Australian dollars) Statista, https://www.statista.com/statistics/1030525/australia-residential-property-value/ (last visited October 06, 2024)
Average price of residential dwellings in Australia from June 2014 to June 2024 (in 1,000 Australian dollars) [Graph], Australian Bureau of Statistics, September 10, 2024. [Online]. Available: https://www.statista.com/statistics/1030525/australia-residential-property-value/