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.

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.

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.

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.

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

The statistic shows the growth rate of Australia’s real GDP from 2019 to 2023, with projections up until 2029. In 2023, GDP in Australia grew by about 2.06 percent on the previous year.

The recession-proof land down under

GDP is one of the primary indicators used to gauge the state and health of a country’s economy. It is the total market value of all final goods and services that have been produced within a country in a given period of time, usually a year. GDP figures allow us to understand a country’s economy in a clear way. Real GDP, in a similar vein, is also a very useful indicator; this is a measurement that takes prices changes (inflation and deflation) into account, therefore acting as a key indicator for economic growth.

The gross domestic product (GDP) growth rate in Australia has, for sometime, been able to get a steady foothold in the somewhat shaky post-recession world, shaky, but far from catastrophic. The annual growth rate between the 2008 and 2009 financial years, for example, a time at which the world was brought to its proverbial knees, saw growth rates down under reach to 2.49 and 1.37 percent respectively on the previous years, whereas the GDP growth rate in the United States plummeted well into the minus zone. Australia, like all other capitalist nations, is at the mercy of international markets, and when the world economy takes a hit, it would be foolish to suggest it could emerge fully unscathed. However, Australia has earned some much deserved praise and attention owing to the fact that it has managed to remain recession-free for the past twenty years. This could be thanks to its abundance of raw materials, the Australian mining boom, the fact the recession came at a time of high commodity prices and, maybe most importantly, that just under a third of its exports go to China.

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.

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.

Australia real estate market size reached US$ 130 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 176 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032. The market is mainly driven by the rising population growth, economic stability and low interest rates on property purchase. Sustainable buildings, mixed-use developments and increased preference for online site visits and virtual tours are further contributing to the market growth.

Report Attribute	Key Statistics
Base Year	2023
Forecast Years	2024-2032
Historical Years	2018-2023
Market Size in 2023	US$ 130 Billion
Market Forecast in ​​​​​​​2032	US$ 176 Billion
Market Growth Rate ​​​​​​​2024-2032	3.4%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2024-2032. Our report has categorized the market based on property, business, and mode.

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

The statistic shows the total population of Australia from 1980 to 2021, with projections up until 2029. In 2021, Australia had a total population of about 25.77 million people. Population of Australia Australia is among the ten largest countries in the world, in terms of area size, although its total population is low in relation to this. Much of Australia’s interior remains uninhabited, as the majority of Australians live in coastal metropolises and cities. Most of the population is of European descent (predominantly British), although there is a growing share of the population with Asian heritage; only a small percentage belongs to the indigenous Aboriginal population. Australia's year-on-year population growth is fairly high compared to most other economically and demographically advanced nations, due to comparatively high rates of natural increase and immigration. Living standards Standard of living is fairly high in Australia, which can be seen when looking at the Human Development Index, which ranks countries by their level of human development and living standards, such as their unemployment rate, literacy rate, or life expectancy at birth. Life expectancy of Australia’s population is quite high in international comparison, for example, Australia is also among the leading countries when it comes to this key factor.

Economically speaking, Australia is also among the leading nations, with a steadily rising employment rate, an increasing gross domestic product (GDP) with a steady growth rate, and a relatively stable share in the global GDP.

Market Overview:

Australia access control market size is projected to exhibit a growth rate (CAGR) of 8.30% during 2025-2033. The inflating popularity of biometric authentication systems and the rising security concerns among businesses are primarily propelling the market growth across the country.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Growth Rate (2025-2033)	8.30%

Access control is a security method developed to safeguard both physical and virtual assets, ensuring that only approved individuals or entities can enter specific systems, devices, or facilities. Various methods, encompassing physical barriers like doors, locks, fences, etc., alongside electronic systems, such as biometric scanners, smart cards, and passwords, are employed to implement access control. These systems typically comprise components like an access control server, a roster of authorized users, hardware like card readers or biometric scanners, etc. During an attempt to access a secure area, credentials undergo verification against the authorized user database. Notably, access control also finds extensive applications in residential and commercial buildings, where it is utilized to regulate entry to specific areas or facilities. This evolution underscores its growing significance in diverse contexts beyond traditional security domains. Consequently, it is gaining traction across the country.

Australia Access Control Market Trends:

The Australia access control market is experiencing significant growth, driven by the growing consciousness among individuals towards security measures in both physical and virtual spaces. Moreover, technological advancements play a pivotal role in shaping the landscape of the access control market across the country. Besides this, the elevating integration of enhanced electronic systems, such as biometric scanners and smart cards, to improve the efficacy of access control measures is further bolstering the market growth. Additionally, the diversification of applications for access control systems is contributing to the market expansion. Beyond traditional uses, access control is gaining traction in residential and commercial buildings, where it is employed to regulate entry to specific areas and facilities. Furthermore, the increasing regulatory emphasis on data protection and privacy is compelling businesses to invest in robust access control solutions. Moreover, compliance with stringent regulations is driving the adoption of advanced systems that offer secure and auditable access management. This, in turn, is anticipated to fuel the Australia access control market over the forecasted period.

Australia Access Control Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on component, type, and end user.

Component Insights:

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• Controller
• Reader
• Locks
• Software
  

The report has provided a detailed breakup and analysis of the market based on the component. This includes controller, reader, locks, and software.

Type Insights:

• Card-based
  • Contact
  • Contactless
• Biometric-based
  • Fingerprint
  • Face Recognition
  • Face Recognition and Fingerprint
  • Iris Recognition
  • Others
    

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes card-based (contact and contactless) and biometric-based (fingerprint, face recognition, face recognition and fingerprint, iris recognition, and others).

End User Insights:

• Government
• Military and Defense
• Commercial
• Healthcare
• Manufacturing
• Transport
• Education
• Residential
• Others
  

The report has provided a detailed breakup and analysis of the market based on the end user. This includes government, military and defense, commercial, healthcare, manufacturing, transport, education, residential, and others.

Regional Insights:

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• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia
  

The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Australia Access Control Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	US$ Million
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Component Type End User Region
Components Covered	Controller, Reader, Locks, Software
Types Covered	Card-based: Contact, Contactless Biometric-based: Fingerprint, Face Recognition, Face Recognition and Fingerprint, Iris Recognition, Others
End Users Covered	Government, Military and Defense, Commercial, Healthcare, Manufacturing,

Revenue has skyrocketed over recent years as government funding for the National Disability Insurance Scheme (NDIS) has surged. Disability service providers have benefited greatly from new funding arrangements, as market-based arrangements support many people with disabilities across Australia. Some individuals receive NDIS support in addition to their Disability Support Pension or other disability payments, while others receive support for the first time under the scheme. Industry revenue is expected to have surged at an annualised 12.1% over the five years through 2024-25, to $48.7 billion. This includes an anticipated jump of 5.9% in 2024-25. Revenue growth over the past five years doesn’t include services offered by NDIS providers under other disability frameworks, like the National Disability Agreement. A substantial portion of the industry's expansion efforts has been due to heightened funding rather than a natural increase in demand. The pandemic had a minimal effect on the NDIS rollout since the service is deemed essential. However, boosted funding for healthcare in general post-pandemic, as the government shifts its priorities, has benefited NDIS providers. This funding shift has also lifted industrywide profitability. The industry is set to continue expanding in the coming years, although at a slower pace compared to historical growth. An increasing number of individuals are projected to enrol in the NDIS, driving up demand. However, the NDIS’s prolonged rollout is losing momentum, leading to decelerating growth. As more individuals sign up to the NDIS, providers will need to diversify and deliver services for more disabilities. Technological innovations are also set to provide more support for industry participants, particularly in the area of assistive technology. Revenue for NDIS providers is forecast to expand at an annualised 7.1% over the five years through 2029-30, to $68.6 billion.

The statistic depicts Australia's gross domestic product (GDP) from 1987 to 2023, with projections up until 2029. In 2023, GDP in Australia amounted to about 1.74 trillion US dollars. See global GDP for a global comparison.

Australia’s economy and population

Australia’s gross domestic product has been growing steadily, and all in all, Australia and its economic key factors show a well-set country. Australia is among the countries with the largest gross domestic product / GDP worldwide, and thus one of the largest economies. It was one of the few countries not severely stricken by the 2008 financial crisis; its unemployment rate, inflation rate and trade balance, for example, were hardly affected at all. In fact, the trade balance of Australia – a country’s exports minus its imports – has been higher than ever since 2010, with a slight dip in 2012. Australia mainly exports wine and agricultural products to countries like China, Japan or South Korea. One of Australia’s largest industries is tourism, which contributes a significant share to its gross domestic product. Almost half of approximately 23 million Australian residents are employed nowadays, life expectancy is increasing, and the fertility rate (the number of children born per woman) has been quite stable.

A look at the distribution of the world population by continent shows that Australia is ranked last in terms of population and population density. Most of Australia's population lives at the coast in metropolitan areas, since parts of the continent are uninhabitable. Unsurprisingly, Australia is known as a country with very high living standards, four of its biggest cities – Melbourne, Adelaide, Sydney and Perth – are among the most livable cities worldwide.

The statistic shows the inflation rate in Australia from 1987 to 2022, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2022, the average inflation rate in Australia was at about 6.61 percent compared to the previous year.

Australia's economy

Australia has one of the world’s largest economies and is a significant global importer and exporter. It is also labeled as one of the G20 countries, also known as the Group of Twenty, which consists of 20 major economies around the globe. The Australian economy is highly dependent on its mining sector as well as its agricultural sector in order to grow, and it exports the majority of these goods to eastern Asian countries, most prominently China. Large quantities of exports have helped Australia maintain a stable economy and furthered economic expansion, despite being affected by several economic obstacles.

Australia’s GDP has seen a significant increase over the past decade, more than doubling its value, and experienced a rather quick recovery from the 2008 financial crisis, which indicates that the country experienced economic growth as well as higher productivity. One of the primary reasons is the further development of the nation’s mining industry coupled with the expansion and success of many Australian mining companies.

This dataset provides values for FULL YEAR GDP GROWTH reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

As of July 1, 2023 in Australia, the national weekly minimum wage was 882.80 Australian dollars for full-time award-free adult employees. This represents an hourly wage of 23.23 Australian dollars and continues the pattern of year on year growth. The weekly national minimum wage has increased by just over 200 Australian dollars since 2016.

This dataset provides values for GDP GROWTH RATE.PHP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In the financial year 2024, Australia’s coal exports were valued at approximately 91 billion Australian dollars. After a sharp increase in 2022 and 2023, Australia saw a decline in both metallurgical and thermal coal exports.  Coal market in Australia  The production of coal in Australia has steadily increased over the past 20 years. Coal is mined in every state, with the largest black coal mines located in Queensland and New South Wales. The country produces significantly more coal than it consumes, resulting in a large coal export market. Most of the coal mined in Australia is exported to eastern Asia.  What is the largest coal mining company in Australia?  The largest coal producer in Australia is a coal mining company that is jointly owned by BHP and Mitsubishi, known as BHP Mitsubishi Alliance (BMA). In 2023, BHP Group was the leading metals and mining company listed on the ASX. BHP is one of the leading global players in the mining sector, with significant revenue reported from its coal segment.

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.