Value of Australian Home Stock Up $624bn in 2023

The value of Australian homes has risen substantially, according to fresh data.

The total value of residential homes in Australia rose to $10,397.1 billion during the December quarter, the Australian Bureau of Statistics (ABS) said.

This was up $196.8 billion from the $10,200.3 billion of the September quarter.

Of this, $9988.4 billion was owned by households, and total value rose in all states and territories.

Values increased by $624 billion during 2023.

Total value of Australian home stock

▲ Source: ABS

The value of homes in the country has been rising steadily since it dipped to $9730 billion for the September quarter, 2022, during the pandemic.

Values have risen by $3741 billion since the $6566 billion of the March, 2019 quarter.

The number of homes in Australia was up by 52,500 to 11,134,600, while the mean price rose by $13,400 to $933,800 during the quarter.

The mean price of residential homes in NSW ($1,184,500) remains the highest in the country, followed by the ACT ($948,500) and Victoria ($895,000).

The lowest mean price was in the Northern Territory with $489,200.

Mean home prices by state and territory

▲ Source: ABS