Australian Property Market: Average Price Hits $1 Million

 The average home across Australia has reached $1 million, according to new data released today.

According to the latest figures by the Australian Bureau of Statistics (ABS), the value of Australia’s residential properties rose by $130.7 billion to $11.4 trillion in the March quarter 2025. This pushed the national mean price of residential property to $1,002,500.

ABS head of finance statistics, Dr Misha Tan, said that Western Australia, South Australia and Queensland were the “main drivers of the rise, with Queensland reaching the second highest mean price in Australia, behind New South Wales”. However, Dr Tan noted: “Despite the quarterly rise in national dwelling value, annual growth in the March quarter slowed to 5.9%. This was down from 9.5% in March quarter 2024”. 

To read more, click here- https://www.forbes.com/advisor/au/personal-finance/property-market-update/



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