Graph and download economic data for Real Residential Property Prices for Australia (QAUR628BIS) from Q1 1970 to Q3 2024 about Australia, residential, HPI, housing, real, price index, indexes, and price.

The average price of Australian residential property has risen over the past ten years, and in September 2024, it reached a new high of 985,900 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; however, a gradual upward trend was witnessed throughout 2023 and 2024. Australian capital city price differences While the national average residential property price has exhibited growth, individual capital cities display diverse trends, highlighting the complexity of Australia’s property market. Sydney maintains its position as the most expensive residential property market across Australia's capital cities, with a median property value of approximately 1.19 million Australian dollars as of December 2024. Brisbane has emerged as an increasingly pricey capital city for residential property, surpassing both Canberra and Melbourne in median housing values. Notably, Perth experienced the most significant annual increase in its average residential property value, with a 19.1 percent increase from December 2023, despite being a comparably more affordable market. Hobart and Darwin remain the most affordable capital cities for residential properties in the country. Is the homeownership dream out of reach? The rise in property values coincides with the expansion of Australia's housing stock. In the September quarter of 2024, the number of residential dwellings reached around 11.25 million, representing an increase of about 53,100 dwellings from the previous quarter. However, this growth in housing supply does not necessarily translate to increased affordability or accessibility for many Australians. The country’s house prices remain largely disproportional to income, leaving the majority of low and middle-income earners priced out of the market. Alongside this, hikes in mortgage interest rates have made taking out a loan increasingly unappealing for many potential property owners, and the share of mortgage holders at risk of mortgage repayment stress has continued to climb.

Key information about House Prices Growth

• Australia house prices grew 6.6% YoY in Sep 2024, following an increase of 6.7% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Sep 2004 to Sep 2024, with an average growth rate of 6.0%.
• House price data reached an all-time high of 24.1% in Dec 2021 and a record low of -6.1% in Mar 2019.

CEIC calculates quarterly House Price Index Growth from quarterly Residential Dwellings: Mean Price of Eight Capital Cities. The Australian Bureau of Statistics provides Residential Dwellings: Mean Price of Eight Capital Cities in local currency. House Price Index Growth prior to Q3 2012 is calculated from Residential Property Price Index: Weighted Average of Eight Capital Cities.

Sydney had the highest median house value compared to other capital cities in Australia as of December 2024, with a value of over 1.47 million Australian dollars. Brisbane similarly had relatively high average residential housing values, passing Canberra and Melbourne to top the pricing markets for real estate across the country alongside Sydney. Housing affordability in Australia Throughout 2024, the average price of residential dwellings recovered across Australia, with most capital cities breaking price records despite interest rate hikes. Rising house prices continue to be an issue for potential homeowners, with many low and middle-income earners priced out of the market. In the third quarter of 2024, Australia’s house price-to-income ratio reached new heights at 122.1 index points. With the share of household income spent on mortgage repayments increasing alongside the disparity in supply and demand, inflating construction costs, and low borrowing capacity, the homeownership dream has become an unattainable prospect for the average person in Australia. Does the rental market offer better prospects? Renting for prolonged periods has become inevitable for many Australians due to the country’s largely inaccessible property ladder. However, record low vacancy rates and rising median weekly house and unit rent prices within Australia’s rental market are making renting a less appealing prospect. In financial year 2024, households in the Greater Sydney metropolitan area reported spending around 30 percent of their household income on rent.

Australia’s real house price index reached 122.9 in the third quarter of 2024, continuing the upward trend since the second quarter of 2023. House prices fluctuated over the reported period compared to the base year of 2015, experiencing a sharp increase throughout 2021, with the country’s house price index peaking in the first quarter of 2022 at 130.9. Prospective homeowners priced out of the market Recent house price increases reflect the ongoing challenges of housing affordability in Australia. Property prices largely outpace income growth, reigniting discussions about whether the country is stuck in a property bubble, a topic that has been debated for over a decade. The country’s house price-to-income ratio exceeded 122 in the third quarter of 2024, the highest ratio recorded over the past five years, making it increasingly difficult to get on the property ladder. Unaffordable rental conditions Australia’s rental market has also seen challenges, with the rent price index continuing to climb throughout 2024, making the prospect of renting less appealing. As of September 2024, the average weekly house rent price in Sydney stood at 775 Australian dollars, the highest across the country’s major cities. Canberra, Darwin, and Perth were the next most expensive markets for house rents, while Hobart was the most affordable capital city for both house and unit rent prices.

Details of applications for social housing as at 30 June, including type of assistance required, program type, application date and level of assessed housing need.

Note: 1) In 2019-20, the department implemented new technology information systems which has resulted in some changes to data structures and coding. Data comparison across years may be impacted. 2) Local Government Authority and State Electorate are determined based on the applicant's first locational preference.

The house price-to-income ratio in Australia was 122.1 as of the third quarter of 2024. This ratio, calculated by dividing nominal house prices by nominal disposable income per head, increased from the previous quarter. The price-to-income ratio can be used to measure housing affordability in a specific area. Australia's property bubble There has been considerable debate over the past decade about whether Australia is in a property bubble or not. A property bubble refers to a sharp increase in the price of property that is disproportional to income and rental prices, followed by a decline. In Australia, rising house prices have undoubtedly been an issue for many potential homeowners, pricing them out of the market. Along with the average house price, high mortgage interest rates have exacerbated the issue. Is the homeownership dream out of reach? Housing affordability has varied across the different states and territories in Australia. In 2024, the median value of residential houses was the highest in Sydney compared to other major Australian cities, with Brisbane becoming an increasingly expensive city. Nonetheless, expected interest rate cuts in 2025, alongside the expansion of initiatives to improve Australia's dwelling stock, social housing supply, and first-time buyer accessibility to properties, may start to improve the situation. These encompass initiatives such as the Australian government's Help to Buy scheme and the Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF) programs.

Map and 2014 data from Australian Bureau of Statistics (ABS) Land Account: South Australia, Experimental Estimates, 2006-2011 (cat. No. 4609.4.55.001) http://www.abs.gov.au/ausstats/abs@.nsf/Latestpr…Show full descriptionMap and 2014 data from Australian Bureau of Statistics (ABS) Land Account: South Australia, Experimental Estimates, 2006-2011 (cat. No. 4609.4.55.001) http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/4609.4.55.001Feature Article1002006 - 2011?opendocument&tabname=Summary&prodno=4609.4.55.001&issue=2006 - 2011&num=&view= Data tables list 2011 SA1s within the 2011 Adelaide Urban Centre/Locality with property area calculations for specified time periods (1990 - 2014), as well corresponding mean building size and mean building size to property area ratio based on 2014 Valuer-General data. The VG data is from a single point in time and contains information for properties as of 2014. (eg. including extensions/renovations or where subdivision has been undertaken, which would include any increases in floor area or decreases in land area that occurred as a result of these). The VG oversee valuations for State Government property transactions and the making and return of council rating valuations. The primary data items used include Land Use, Property Area, Equivalent Main Area and Year built. "Equivalent main area" is the total area under the main roof excluding area of eg. carports, garages, verandahs etc. rather than the building footprint. Only landuse codes with a classification of "Private" were included in the analysis. State Office Land Use Classification 2007 was used to analyse Valuer General data. Only records classified as Single Unit Houses (land use code 1100-1119) were included in the analysis (80% of VG records), but this will include multistory houses. Because the area calculation for multistory houses could exceed the size of the land parcel, a "MeanAreaRatio_adj field has been included - Where the Pre1980_MeanAreaRatio for a property is greater than 100.0, then this has been adjusted down to 100.0 The analysis was restricted to Private Single Unit Houses (excluding multiple unit dwellings and commercial buildings) in an effort to enable the data to be used to understand residential backyard sizes and how these have changed over time. Note that although the figure heading notes a year range of 1990-2014 the original output dataset for Statistical Area Level 1 s(SA1) included records with a null year field (326 records) as well as records dating back to 1838. Map relates to Figure BLT24 in the Built environment theme of the 2016 State of the Environment Report, available at http://www.soe.environment.gov.au The map service can be viewed at http://soe.terria.io/#share=s-3nePG4Ns8PitiB0Qo1SBf6SYwc1 Downloadable spatial data also available below.

Map and 2010 data from Australian Bureau of Statistics (ABS) Land Account: South Australia, Experimental Estimates, 2006-2011 (cat. No. 4609.4.55.001) http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/4609.4.55.001Feature%20Article1002006%20-%202011?opendocument&tabname=Summary&prodno=4609.4.55.001&issue=2006%20-%202011&num=&view=

Data tables list 2011 SA1s within the 2011 Adelaide Urban Centre/Locality with property area calculations for specified time periods (1990 - 2014), as well corresponding mean building size and mean building size to property area ratio based on 2014 Valuer-General data. The VG data is from a single point in time and contains information for properties as of 2014. (eg. including extensions/renovations or where subdivision has been undertaken, which would include any increases in floor area or decreases in land area that occurred as a result of these). The VG oversee valuations for State Government property transactions and the making and return of council rating valuations. The primary data items used include Land Use, Property Area, Equivalent Main Area and Year built. "Equivalent main area" is the total area under the main roof excluding area of eg. carports, garages, verandahs etc. rather than the building footprint. Only landuse codes with a classification of "Private" were included in the analysis. State Office Land Use Classification 2007 was used to analyse Valuer General data. Only records classified as Single Unit Houses (land use code 1100-1119) were included in the analysis (80% of VG records), but this will include multistory houses. Because the area calculation for multistory houses could exceed the size of the land parcel, a "MeanAreaRatio_adj field has been included - Where the Pre1980_MeanAreaRatio for a property is greater than 100.0, then this has been adjusted down to 100.0 The analysis was restricted to Private Single Unit Houses (excluding multiple unit dwellings and commercial buildings) in an effort to enable the data to be used to understand residential backyard sizes and how these have changed over time. Note that although the figure heading notes a year range of 1990-2014 the original output dataset for Statistical Area Level 1 s(SA1) included records with a null year field (326 records) as well as records dating back to 1838.

Map relates to Figure BLT24 in the Built environment theme of the 2016 State of the Environment Report, available at http://www.soe.environment.gov.au

The map service can be viewed at http://soe.terria.io/#share=s-sB5VcuCdJXg9TdCi3nz3FT0eojG

Downloadable spatial data also available below.

This dataset provides values for CASE SHILLER HOME PRICE INDEX reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This dataset provides values for EXISTING HOME SALES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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Real Estate Market Size 2025-2029

The real estate market size is forecast to increase by USD 1,258.6 billion at a CAGR of 5.6% between 2024 and 2029.

The market is experiencing significant shifts and innovations, with both residential and commercial sectors adapting to new trends and challenges. In the commercial realm, e-commerce growth is driving the demand for logistics and distribution centers, while virtual reality technology is revolutionizing property viewings. Europe's commercial real estate sector is witnessing a rise in smart city development, incorporating LED lighting and data centers to enhance sustainability and efficiency. In the residential sector, wellness real estate is gaining popularity, focusing on health and well-being. Real estate software and advertising services are essential tools for asset management, streamlining operations, and reaching potential buyers. Regulatory uncertainty remains a challenge, but innovation in construction technologies, such as generators and renewable energy solutions, is helping mitigate risks.

What will be the Size of the Real Estate Market During the Forecast Period?

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The market continues to exhibit strong activity, driven by rising population growth and increasing demand for personal household space. Both residential and commercial sectors have experienced a rebound in home sales and leasing activity. The trend towards live-streaming rooms and remote work has further fueled demand for housing and commercial real estate. Economic conditions and local market dynamics influence the direction of the market, with interest rates playing a significant role in investment decisions. Fully furnished, semi-furnished, and unfurnished properties, as well as rental properties, remain popular options for buyers and tenants. Offline transactions continue to dominate, but online transactions are gaining traction.
The market encompasses a diverse range of assets, including land, improvements, buildings, fixtures, roads, structures, utility systems, and undeveloped property. Vacant land and undeveloped property present opportunities for investors, while the construction and development of new housing and commercial projects contribute to the market's overall growth.

How is this Real Estate Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Residential
  Commercial
  Industrial


Business Segment

  Rental
  Sales


Manufacturing Type

  New construction
  Renovation and redevelopment
  Land development


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  South America

    Brazil


  Middle East and Africa

By Type Insights

The residential segment is estimated to witness significant growth during the forecast period.

The market encompasses the buying and selling of properties designed for dwelling purposes, including buildings, single-family homes, apartments, townhouses, and more. Factors fueling growth in this sector include the increasing homeownership rate among millennials and urbanization trends. The Asia Pacific region, specifically China, dominates the market due to escalating homeownership rates. In India, the demand for affordable housing is a major driver, with initiatives like Pradhan Mantri Awas Yojana (PMAY) spurring the development of affordable housing projects catering to the needs of lower and middle-income groups. The commercial real estate segment, consisting of office buildings, shopping malls, hotels, and other commercial properties, is also experiencing growth.

Furthermore, economic and local market conditions, interest rates, and investment opportunities in fully furnished, semi-furnished, unfurnished properties, and rental properties influence the market dynamics. Technological integration, infrastructure development, and construction projects further shape the real estate landscape. Key sectors like transportation, logistics, agriculture, and the e-commerce sector also impact the market.

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The Residential segment was valued at USD 1440.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 64% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia Pacific region holds the largest share of The market, dr

Quarterly median house prices for metropolitan Adelaide by suburb

In the metropolitan area of Melbourne, Australia, the median home price was approximately 860,000 Australian dollars in the year 2023. In 2022, the median house price was about 890,000 Australian dollars.

Overview:

Information on location and characteristics of crashes in Queensland for all reported Road Traffic Crashes occurred from 1 January 2001 to 30 November 2023. Fatal crashes to 30 November 2023. Non-fatal, hospitalisation, medical treatment and minor injury crashes to 30 June 2023 and property damage only crashes to 31 December 2010.

_Fatal, Hospitalisation, Medical treatment and Minor injury: _

This dataset contains information on crashes reported to the police which resulted from the movement of at least 1 road vehicle on a road or road related area. Crashes listed in this resource have occurred on a public road and meet one of the following criteria:

• a person is killed or injured, or
• at least 1 vehicle was towed away, or
• the value of the property damage meets the appropriate criteria listed below.

_Property damage: _

1. $2500 or more damage to property other than vehicles (after 1 December 1999)
2. $2500 or more damage to vehicle and/or other property (after 1 December 1991 and before 1 December 1999)
3. value of property damage is greater than $1000 (before December 1991).

_Please note: _

• This data has been extracted from the Queensland Road Crash Database.
• Information held in the Road Crash Database on events occurring within the last 12 months is considered preliminary as investigations into crashes can take up to 1 year to finalise.
• Property damage only crashes ceased to be reported/recorded by Queensland Police Service after 31 December 2010.
• These crash location coordinates reference the current Australian geodetic datum is GDA2020 (previously it was GDA94).

Unemployment Rate in Australia remained unchanged at 4.10 percent in February. This dataset provides - Australia Unemployment Rate at 5.8% in December - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2023. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 117.5 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

Released under formal Government Information Public Access (GIPA). Application made to Department of Finance, Services and Innovation (DFSI) - GIPR19/2:

"Please provide a figure on how many complaints of alleged building defects have been received by the Department of Finance, Services & Innovation from January 1, 2018, to December 31, 2018. Please provide a list of locations of these alleged building defects (preferably by suburb - if not, by LGA)."

The rent price index in Australia in the fourth quarter of 2024 was 120.7, marking an increase from the same quarter of the previous year. Rent prices had decreased in 2020; in Melbourne and Sydney, this was mainly attributed to the absence of international students during the coronavirus outbreak. The current state of the rental market in Australia The rental market in Australia has been marked by varying conditions across different regions. Among the capital cities, Sydney and Melbourne have long been recognized for having some of the highest average rents. As of September 2024, the average weekly rent for a house in Sydney was 775 Australian dollars, which was the highest average rent across all major cities in Australia that year. Furthermore, due to factors like population growth and housing demand, regional areas have also seen noticeable increases in rental prices. For instance, households in the non-metropolitan area of New South Wales’s expenditure on rent was around 30 percent of their household income in the year ending June 2024. Housing affordability in Australia Housing affordability remains a significant challenge in Australia, contributing to a trend where many individuals and families rent for prolonged periods. The underlying cause of this issue is the ongoing disparity between household wages and housing costs, especially in large cities. While renting offers several advantages, it is worth noting that the associated costs may not always align with the expectation of affordability. Approximately one-third of participants in a survey conducted in 2023 stated that they pay between 16 and 30 percent of their monthly income on rent. Recent government initiatives such as the 2024 Help to Buy scheme aim to make it easier for people across Australia to get onto the property ladder. Still, the multifaceted nature of Australia’s housing affordability problem requires continued efforts to strike a balance between market dynamics and the need for accessible housing options for Australians.

This topographic dataset displays the extent of named rural properties (horticultural or agricultural properties) in the State of Queensland.