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.

In the third quarter of 2023, the median price of residential property transfers for established housing in Darwin came to around 630 thousand Australian dollars. This marked the highest median price of established housing transfers in Darwin within the given time period.

This statistic displays the median price for dwellings in major cities in Australia, as of ***********. That year, the median price for a dwelling in Darwin was about *** thousand Australian dollars.

Bakewell in Greater Darwin, Northern Territory was the most affordable capital city apartment suburb in Australia as of November 2024, with a median property value of around ******* Australian dollars. The Gray suburb, also in Greater Darwin, was the second-most affordable capital city apartment suburb.

Australia’s real house price index increased to ***** in the first quarter of 2025. 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.

Hong Kong HK: Property Prices Index: 1999=100: Domestic Premises: PD: New Territories (NT) data was reported at 319.300 1999=100 in Sep 2018. This records a decrease from the previous number of 324.300 1999=100 for Aug 2018. Hong Kong HK: Property Prices Index: 1999=100: Domestic Premises: PD: New Territories (NT) data is updated monthly, averaging 106.100 1999=100 from Jan 1992 (Median) to Sep 2018, with 321 observations. The data reached an all-time high of 324.400 1999=100 in Jul 2018 and a record low of 54.600 1999=100 in Jul 2003. Hong Kong HK: Property Prices Index: 1999=100: Domestic Premises: PD: New Territories (NT) data remains active status in CEIC and is reported by Rating and Valuation Department. The data is categorized under Global Database’s Hong Kong – Table HK.EB015: Residential: Price Index: 1999=100.

Australia Consumer Price Index (CPI): Darwin: Housing data was reported at 206.400 1989-1990=100 in Jun 2012. This records an increase from the previous number of 204.600 1989-1990=100 for Mar 2012. Australia Consumer Price Index (CPI): Darwin: Housing data is updated quarterly, averaging 114.200 1989-1990=100 from Sep 1980 (Median) to Jun 2012, with 128 observations. The data reached an all-time high of 206.400 1989-1990=100 in Jun 2012 and a record low of 51.000 1989-1990=100 in Sep 1980. Australia Consumer Price Index (CPI): Darwin: 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.I009: Consumer Price Index: 1989-90=100: Eight Capital Cities.

Australia Consumer Price Index (CPI): Darwin: Housing: Utilities data was reported at 138.200 2011-2012=100 in Mar 2025. This records an increase from the previous number of 133.200 2011-2012=100 for Dec 2024. Australia Consumer Price Index (CPI): Darwin: Housing: Utilities data is updated quarterly, averaging 65.100 2011-2012=100 from Sep 1980 (Median) to Mar 2025, with 179 observations. The data reached an all-time high of 143.300 2011-2012=100 in Sep 2023 and a record low of 19.200 2011-2012=100 in Sep 1980. Australia Consumer Price Index (CPI): Darwin: Housing: Utilities 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.

In the June quarter of 2024, the average residential property price in the Northern Territory exceeded 538 thousand Australian dollars. In comparison, the mean residential dwelling price across Australia was around 973 thousand Australian dollars.

Hong Kong HK: Property Prices Index: 1999=100: Domestic Premises: PD: Class D & E: NT data was reported at 286.500 1999=100 in Sep 2018. This records a decrease from the previous number of 294.700 1999=100 for Aug 2018. Hong Kong HK: Property Prices Index: 1999=100: Domestic Premises: PD: Class D & E: NT data is updated monthly, averaging 124.700 1999=100 from Jan 1992 (Median) to Sep 2018, with 321 observations. The data reached an all-time high of 294.700 1999=100 in Aug 2018 and a record low of 56.700 1999=100 in Jan 1992. Hong Kong HK: Property Prices Index: 1999=100: Domestic Premises: PD: Class D & E: NT data remains active status in CEIC and is reported by Rating and Valuation Department. The data is categorized under Global Database’s Hong Kong – Table HK.EB015: Residential: Price Index: 1999=100.

Taiwan Resid Transact excl PS: 3MMA: NT: Avg Value (AV) data was reported at 12,460.000 NTD th in Mar 2018. This records an increase from the previous number of 12,390.000 NTD th for Feb 2018. Taiwan Resid Transact excl PS: 3MMA: NT: Avg Value (AV) data is updated monthly, averaging 11,690.000 NTD th from Jul 2010 (Median) to Mar 2018, with 93 observations. The data reached an all-time high of 12,810.000 NTD th in Feb 2015 and a record low of 7,900.000 NTD th in Jul 2010. Taiwan Resid Transact excl PS: 3MMA: NT: Avg Value (AV) data remains active status in CEIC and is reported by Sinyi Realty Incorporation. The data is categorized under Global Database’s Taiwan – Table TW.EB021: Residential Property Transaction: By Region: Sinyi Realty: 3-Month Moving Average.

Australia Consumer Price Index (CPI): Darwin: Housing: Rents data was reported at 105.600 2011-2012=100 in Mar 2025. This records an increase from the previous number of 104.700 2011-2012=100 for Dec 2024. Australia Consumer Price Index (CPI): Darwin: Housing: Rents data is updated quarterly, averaging 61.100 2011-2012=100 from Sep 1980 (Median) to Mar 2025, with 179 observations. The data reached an all-time high of 115.400 2011-2012=100 in Dec 2014 and a record low of 27.200 2011-2012=100 in Sep 1980. Australia Consumer Price Index (CPI): Darwin: 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.

GDP: NT: NA: Real Estate data was reported at 6,133.798 THB mn in 2016. This records an increase from the previous number of 5,298.703 THB mn for 2015. GDP: NT: NA: Real Estate data is updated yearly, averaging 5,119.803 THB mn from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 7,204.237 THB mn in 2012 and a record low of 2,205.234 THB mn in 1995. GDP: NT: NA: Real Estate data remains active status in CEIC and is reported by National Economic and Social Development Board. The data is categorized under Global Database’s Thailand – Table TH.A080: Regional GDP: SNA93: Southern: Current Price (Rev. 4).

Thailand GDP: 2002p: CVM: NT: NA: Real Estate data was reported at 6,543.428 THB mn in 2016. This records an increase from the previous number of 5,611.350 THB mn for 2015. Thailand GDP: 2002p: CVM: NT: NA: Real Estate data is updated yearly, averaging 5,464.859 THB mn from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 7,600.686 THB mn in 2012 and a record low of 2,181.639 THB mn in 1995. Thailand GDP: 2002p: CVM: NT: NA: Real Estate data remains active status in CEIC and is reported by National Economic and Social Development Board. The data is categorized under Global Database’s Thailand – Table TH.A081: SNA1993: Regional GDP: Southern: 2002 Price: Chain Volume Measures (Rev. 4).