The average price of Australian residential property has risen over the past ten years, and in December 2024, it reached 976,800 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, with minor fluctuations in 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 April 2025. 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 10 percent increase from April 2024, 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 December quarter of 2024, the number of residential dwellings reached around 11.29 million, representing an increase of about 53,200 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, elevated mortgage interest rates in recent years 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.

Sydney had the highest median house value compared to other capital cities in Australia as of April 2025, with a value of over **** 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 remained high across Australia, with several capital cities breaking price records. 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 fourth quarter of 2024, Australia’s house price-to-income ratio declined slightly to ***** 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 elevated 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 ** percent of their household income on rent.

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.

Australia’s real house price index fell to ***** 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 ***. 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 ***** 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 *** 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 Residential Property Prices for Australia (QAUN628BIS) from Q1 1970 to Q4 2024 about Australia, residential, HPI, housing, price index, indexes, and price.

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.

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.

This chart shows the monthly housing cost expenses for renters. Gross rent is the agreed upon rent plus the estimated average monthly cost of utilities (electricity, gas, and water and sewer) and fuels (oil, coal, kerosene, wood, etc.) if these are paid by the renter.

This dataset contains annual sales trends history for Arncliffe, 2205 covering median prices, sales volumes, resales capital growth and more. Based on sales data from the NSW Valuer General analysed by AreaSearch.

Homeownership provides financial and emotional security and often represents an individual or family's most significant investment. House Construction industry contractors build single-unit (detached) dwellings or renovate and repair existing houses. Australia's solid population growth underpins the industry's performance. Still, a long-term shift in housing preferences towards constructing high-density apartments and townhouses has eroded revenue. House construction surged to a record peak in 2021-22 despite the pandemic restrictions and supply chain blockages impeding progress on construction projects. Homebuyers responded to record-low mortgage interest rates, favourable bank lending practices and the stimulus from the Federal Government's HomeBuilder scheme by unprecedented investment in new single-unit house construction and home renovations. As the housing market heated up, builders faced challenges juggling heavy workloads while dealing with supply bottlenecks, skill shortages and rising costs. The industry's revenue performance has taken a hit in recent years as housing investment slumped following the hike in mortgage interest rates as the RBA lifted official cash rates to quell inflation. Meanwhile, the HomeBuilder scheme wound down with the completion of funded projects. Industry revenue is expected to fall by 2.9% in 2024-25 and decline at an annualised 1.5% over the five years through 2024-25 to $76.1 billion. The industry's profit margins have suffered, partly reflecting the supply chain disruptions during the housing boom stemming from the COVID-19 restrictions. These bottlenecks delayed construction projects and inflated input prices for building materials, fuel, capital equipment and skilled labour. Fixed-price contracts and escalating input costs have pushed many homebuilders to the brink. Mounting population pressure and some easing in mortgage interest rates will support the moderate recovery in the industry's performance. Homebuilders may also derive some support from a commitment to construct 1.0 million new homes under the National Housing Accord. Still, much of the focus of residential building construction will shift towards high-density apartment and townhouse developments rather than single-unit houses. Industry revenue is forecast to climb at an annualised 1.4% to $81.6 billion through the end of 2029-30.

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.

The industry is benefiting from a long-term shift in dwelling preferences away from traditional single-unit houses and towards higher density apartments and townhouses. Still, this trend reversed during a surge in single-unit house construction under the Federal Government's HomeBuilder scheme and a slump in multi-unit dwelling investment to a cyclical low in 2021-22 as multi-unit dwelling commencements plunged 34.9% over the two years to 2019-20. The sharp contraction in multi-unit dwelling construction stemmed from the emergence of excess unsold stock, tighter restrictions on foreign real estate investment and closed international borders at the height of the COVID-19 pandemic. Demand for new dwelling construction has jumped thanks to extremely low rental vacancy rates since pandemic restrictions eased and Australia's population growth recovered. Rising household formation rates have encouraged property developers to kickstart deferred apartment developments. Residential builders have endured deteriorating profitability through 2024-25 in the face of unfavourable investment conditions and mounting inflationary pressures following earlier pandemic-related supply chain blockages. Adverse trading conditions have contributed to the collapse of several prominent builders, including Probuild, St Hilliers and Dyldham, with flow-on effects throughout the entire industry. Over the five years through 2024-25, industry revenue is expected to decrease at an annualised 2.5% to $52.1 billion, despite anticipated growth of 1.2% during the current year. Several factors have contributed to the industry's recent resurgence, including initiatives from the National Housing Accord (NHA) and the start-up of build-to-rent (BTR) developments. The focus of the government’s residential development efforts through the NHA has been on boosting the stock of affordable housing, including using the Housing Australia Future Fund (HAFF). The recent development of several large-scale BTR projects reflects institutional and taxation changes to allow the investment model, with residential property developers and renters alike increasingly embracing the option. Conditions will strengthen considerably for builders focusing on multi-unit dwelling construction. Industry revenue is projected to grow at an annualised 5.7% through the end of 2029-30 to $68.7 billion. Mounting population pressures, rising house prices and a minor reduction in mortgage interest rates point to favourable investment in medium-to-high-level building projects. The industry will also derive stimulus from the Federal Government promoting the construction of 1.2 million dwellings over the five years from 2024-25 and funding social and affordable rental housing under the HAFF.

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.

In December 2024, commercial property sale asking prices were forecasted to witness a decrease of around 0.86 percent. Within the given time period, the largest growth in commercial property asking prices was recorded in June 2021.

As of September 2024, the average rental yield of houses in Sydney, New South Wales, was 2.98 percent. In Darwin, the rental yield for houses measured 6.27 percent, which was the highest across all Australian capital cities during that quarter.

Mortgage Rate in Australia decreased to 5.97 percent in March from 6.03 percent in February of 2025. This dataset includes a chart with historical data for Australia Mortgage Rate.

Rent Inflation in Australia decreased to 5.50 percent in the first quarter of 2025 from 6.40 percent in the fourth quarter of 2024. This dataset includes a chart with historical data for Australia Rent Inflation.

The Finance sector's operating environment was previously characterised by record-low interest rates. Nonetheless, high inflation prompted the Reserve Bank of Australia (RBA) to hike the cash rate from May 2022 onwards. This shift allowed financial institutions to impose higher loan charges, propelling their revenue. Banks raised interest rates quicker than funding costs in the first half of 2022-23, boosting net interest margins. The introduction of the Term Funding Facility (TFF) also provided financial institutions access to cost-effective funding, contributing to their profit margin in recent years. However, sophisticated competition, the mortgage war and the expiry of TFF have curbed profitability gains. The robust residential property market, bolstered by housing price growth and government incentives like the First Home Owner Grant, has enhanced the revenues of many lenders. Larger financial institutions are combatting intensified competition from neobanks and fintechs by upscaling their technology investments and augmenting their digital offerings. Notable examples include the launch of ANZ Plus by ANZ and Commonwealth Bank's Unloan. Overall, sector revenue is expected to rise at an annualised 6.1% over the five years through 2024-25, to $473.4 billion. This growth trajectory includes an estimated 6.4% decline in 2024-25 driven by potential rate cuts in 2025, which will weigh on interest income. The Big Four banks will continue accelerating technology investments and partnerships to counter threats from fintech startups and neobanks. As cybersecurity risks and regulations evolve, financial institutions will gear up to strengthen their focus on shielding sensitive customer data and preserving trust. In the face of fierce competition, evolving regulations and shifting customer preferences, consolidation through M&As is poised to be a viable trend for survival and growth, especially among smaller financial institutions like credit unions. While rate cuts and TFF funding shifts will challenge profitability within the sector, expansionary economic policies are poised to stimulate business and mortgage lending activity, presenting opportunities for strategic growth in a dynamic market. These trends are why Finance sector revenue is forecast to rise by an annualised 1.8% over the five years through the end of 2029-30, to $518.8 billion

Shifting social trends have significantly influenced the Restaurants industry's performance over recent years. Consumers' busy lifestyles and high workloads have bolstered demand for restaurant meals and takeaway. Restaurants allow consumers to combine dining with leisure and avoid spending time on food preparation. Rising demand for food delivery platforms like Uber Eats has also supported industry revenue, allowing time-poor consumers to purchase home-delivered, restaurant-quality food. A fall in discretionary incomes and recent cost-of-living pressures have restricted patronage for restaurants, as consumers have become more concerned about the costs of dining out. Industry businesses are also finding it extremely difficult to deal with elevated operational costs, including high input, wage and energy expenses. Labour shortages have also been extreme in the industry, with restaurants facing major retention gaps. These factors, along with intense competitive pressures, have curbed the industry’s profitability growth and forced businesses to exit the industry over the two years through 2024-25. Nonetheless, the total number of enterprises in the industry has increased over the past five years as dynamic consumer preferences have created several niches for restaurants to cater to. Overall, industry revenue is anticipated to have soared at an annualised 6.6% over the five years through 2024-25 to $24.1 billion. This includes an expected 2.2% dip in 2024-25. Looking ahead, improving consumer confidence and expanding discretionary incomes are set to support industry revenue. Reeling from the economic challenges of the previous five-year period, restaurants are anticipated to diversify their revenue streams by expanding their service offerings to include merchandise and live events. Restaurants are forecast to focus on improving operational efficiencies to limit costs and boost profitability. There will also be a focus on sustainability efforts as Australian consumers become more discerning about their environmental choices. Overall, industry revenue is projected to climb an annualised 1.0% over the five years through 2029-30 to total $25.5 billion.