Western Australia has joined NSW and Queensland in having an average home price over one million dollars, the Australian Bureau of Statistics (ABS) said this week.
Data released this week by the ABS shows that the total value of Australia’s residential dwellings rose by $384.8 billion or 3.2 per cent to $12.3 trillion in the December quarter 2025.
ABS head of finance statistics Dr Mish Tan observed that after 13 quarters of uninterrupted growth since September 2022, the total value has surpassed $12 trillion for the first time.
“December quarter’s growth was driven by rising property prices, as the national mean dwelling price increased 2.7 percent to $1.07 million”, Tan said.
The mean price of residential dwellings rose in all states and territories this quarter, with growth most evident in Western Australia (7.5 per cent or $70,500), followed by Queensland (4.8 per cent or $48,800) and South Australia (4.5 per cent or $40,800).
Over the year to end December, values rose 16.8 per cent in WA, 13.9 per cent in Queensland, 15.1 per cent in the Northern Territory, 10.6 per cent in SA, 5 per cent in Tasmania, 3.6 per cent in NSW, 3.4 per cent in Victoria, and 3 per cent in the ACT.
“Annually, dwelling prices in Western Australia have risen faster than any other state or territory, rising 16.8 per cent to $1.01 million since December quarter 2024”, Tan noted.
Western Australia has now become the third state after New South Wales and Queensland to have a mean dwelling price of over $1 million.