Australia’s real house price index fell to 119.9 in the fourth quarter of 2024. 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 131. 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 hit 122.5 in the second 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 into the first quarter of 2025, making the prospect of renting less appealing. As of March 2025, 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.

Graph and download economic data for Real Residential Property Prices for Australia (QAUR628BIS) from Q1 1970 to Q4 2024 about Australia, residential, HPI, housing, real, price index, indexes, and price.

Key information about Australia Gold Production

• Australia Real Residential Property Price Index was reported at 134.266 2010=100 in Sep 2024.
• This records an increase from the previous number of 132.982 2010=100 for Jun 2024.
• Australia Real Residential Property Price Index data is updated quarterly, averaging 49.675 2010=100 from Mar 1970 to Sep 2024, with 219 observations.
• The data reached an all-time high of 141.875 2010=100 in Mar 2022 and a record low of 31.307 2010=100 in Mar 1970.
• Australia Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

Key information about House Prices Growth

• Australia house prices grew 2.9% YoY in Dec 2024, following an increase of 5.8% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Sep 2004 to Dec 2024, with an average growth rate of 5.8%.
• 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.

Provides estimates of changes in residential property prices in each of the eight capital cities of Australia and related statiastics. The information is presented in the form of price indexes for established houses and attached dwellings as well as an aggregated residential property price index. Estimates relating to the total value of the dwelling stock, transfer counts and medians are also provided.

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 report analyses the price of residential housing in Australia. This is measured by taking the average of the residential property price index produced by the Australian Bureau of Statistics (ABS). The index is an aggregation of an established house price index and an attached dwellings price index. The index measures the price change in all residential dwellings in Australia's eight major capital cities. The data for this report is sourced from the ABS and has an index base year of 2011-12.

The house price-to-income ratio in Australia was ***** as of the fourth 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.

Residential Property Prices in Australia increased 5.45 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Australia Residential Property Prices.

In December 2023, the Housing Consumer Price Index (CPI) in Sydney, Australia reached 150 index points. The CPI for housing in Australia had experienced a sharp increase over the past year, rising just under 10 index points.

The Outlook of the Australian Commercial Property Market Report is Segmented by Type (office, Retail, Industrial and Logistics, Hospitality, and Other Types) and by Key Cities (Sydney, Melbourne, Brisbane, Adelaide, Canberra, and Perth). The Report Offers Market Sizes and Forecasts in Value (USD) for all the Above Segments.

CPI Housing Utilities in Australia increased to 151.50 points in the first quarter of 2025 from 149 points in the fourth quarter of 2024. This dataset provides - Australia Cpi Housing Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia Consumer Price Index (CPI): Weights: Housing data was reported at 21.740 % in Dec 2024. This stayed constant from the previous number of 21.740 % for Sep 2024. Australia Consumer Price Index (CPI): Weights: Housing data is updated quarterly, averaging 22.680 % from Sep 2017 (Median) to Dec 2024, with 30 observations. The data reached an all-time high of 24.050 % in Sep 2021 and a record low of 21.740 % in Dec 2024. Australia Consumer Price Index (CPI): Weights: Housing data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.I010: Consumer Price Index: Weights: 17th Series.

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.

The average house price in Nova Scotia in 2024 stood at approximately 447,800 Canadian dollars. In the next year, house prices are forecast to further increase by about five percent. Compared to other provinces, Nova Scotia ranked below the national average in terms of house prices. However, the average price of a house in Nova Scotia was twice lower than in Ontario or British Columbia. Exploding population growth in recent yearsNova Scotia is the second-smallest province after Prince Edward Island, and had a population of just under one million in 2018. The population of this province was relatively steady between 2000 and 2015, but has taken off since then. This sudden growth may be a factor in the increasing house prices, as demand also increases due to the greater number of residents looking for homes. The future of housing affordability in Nova ScotiaHalifax, the provincial capital, had an affordable housing market as of 2018, with mortgage payments only constituting about 30 percent of average household incomes. The number of housing starts in the region has increased in the past few years, which also suggests an increase in demand. Only time will tell whether this will ensure a sufficient supply of homes for the region in response to its growing population.

In the June quarter of 2024, the average residential property price in Western Australia exceeded 816 thousand Australian dollars. This marked the highest quarterly mean dwelling price in Western Australia during the reported period.

Australia Consumer Price Index (CPI): Sydney: Housing: Rents data was reported at 137.200 2011-2012=100 in Mar 2025. This records an increase from the previous number of 136.000 2011-2012=100 for Dec 2024. Australia Consumer Price Index (CPI): Sydney: Housing: Rents data is updated quarterly, averaging 60.800 2011-2012=100 from Sep 1972 (Median) to Mar 2025, with 211 observations. The data reached an all-time high of 137.200 2011-2012=100 in Mar 2025 and a record low of 8.500 2011-2012=100 in Sep 1972. Australia Consumer Price Index (CPI): Sydney: Housing: Rents data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.I007: Consumer Price Index: 2011-12=100: Eight Capital Cities.

Australia Consumer Price Index (CPI): Sydney: Housing: Other: Property Rates & Charges data was reported at 156.200 2011-2012=100 in Mar 2025. This stayed constant from the previous number of 156.200 2011-2012=100 for Dec 2024. Australia Consumer Price Index (CPI): Sydney: Housing: Other: Property Rates & Charges data is updated quarterly, averaging 100.000 2011-2012=100 from Jun 1998 (Median) to Mar 2025, with 108 observations. The data reached an all-time high of 156.200 2011-2012=100 in Mar 2025 and a record low of 56.700 2011-2012=100 in Jun 1998. Australia Consumer Price Index (CPI): Sydney: Housing: Other: Property Rates & Charges data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.I007: Consumer Price Index: 2011-12=100: Eight Capital Cities.

Australia Consumer Price Index (CPI): All Items: City data was reported at 125.976 2015=100 in Dec 2023. This records an increase from the previous number of 125.421 2015=100 for Sep 2023. Australia Consumer Price Index (CPI): All Items: City data is updated quarterly, averaging 38.282 2015=100 from Sep 1948 (Median) to Dec 2023, with 302 observations. The data reached an all-time high of 125.976 2015=100 in Dec 2023 and a record low of 3.417 2015=100 in Dec 1948. Australia Consumer Price Index (CPI): All Items: City data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Australia – Table AU.OECD.MEI: Consumer Price Index: COICOP 1999: OECD Member: Quarterly. The Australian CPI measures the pure price change in a selected basket of goods and services (of constant quality and quantity) typically purchased by Australian households. Prices used are actual transaction prices, including taxes but net of any unconditional subsidies or discounts. 'Special' and sales prices are recorded if they are temporary reductions. Rebates and free gifts are treated on a case by case basis. Prices are adjusted accordingly where bonus quantities, prepayments or early payment discounts and over-valuation during trade-ins are offered. No adjustments are made to prices in case where the price is linked to cheap finance or discount bulk purchases, or where entitlement to prizes in competitions are linked to product purchases. Any concessions available to particular groups of the population (such as age pensioners) are also taken into account where significant. Method of collection: The collection of prices in each capital city is largely conducted by trained field staff operating out of the various offices of the ABS, while some prices are collected by staff in the national office. Prices for most items are collected via personal visits using a hand held device. Other collection methods include the telephone, the Internet, electronic files, brochures, catalogues, and paper forms. Treatment of rentals for housing: The index includes a measure of rented housing. Treatement of Owner-Occupied Housing: The index includes a measure of owner-occupied housing costs represented by the purchase of dwellings (excluding land) and major improvements to existing homes and other costs according to an acquisitions approach. Treatment of missing prices: Missing values are imputed using price movements of similar products, price movements of the product at other outlets or other available external data. Treatment of quality changes: Prices are adjusted to remove the effect of quality changes. The method used vary according to the nature of the change and relies largely on external industry data. Treatment of replacement items: they are selected after consultation with retail outlet managers, product distributors or manufacturers and analysing industry data for the items affected. New products are included between weights updates via linking or splicing process. Treatment of seasonal items: items showing distinct seasonal behavior are adjusted via two methods. The first method involves repeating the same price in the out of season periods (education fees). In the second, prices for out of season products are imputed from other items in the same group or expenditure class (food and clothing).

Australia Consumer Price Index (CPI): Housing: Rents: Rents data was reported at 203.800 1989-1990=100 in Jun 2012. This records an increase from the previous number of 201.500 1989-1990=100 for Mar 2012. Australia Consumer Price Index (CPI): Housing: Rents: Rents data is updated quarterly, averaging 107.000 1989-1990=100 from Sep 1972 (Median) to Jun 2012, with 160 observations. The data reached an all-time high of 203.800 1989-1990=100 in Jun 2012 and a record low of 19.400 1989-1990=100 in Sep 1972. Australia Consumer Price Index (CPI): Housing: Rents: Rents data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.I008: Consumer Price Index: 1989-90=100.