9: 43pm Jun 14, 2022
The overall value of Australia’s residential dwellings has handed $10 trillion for the first time.
New files from the Australian Bureau of Statistics (ABS) reveals the final value of Australia’s residential dwellings rose by $221.2 billion in the March quarter.
This implies the typical value of residential dwellings in Australia now stands at $941,900, up from $925,300 in the December quarter in 2021.
Australia’s property market has recorded one other jump. (Peter Rae)ABS Head of Prices Statistics Michelle Marquardt mentioned over the last 365 days, development in median costs in regional NSW and Victoria had outpaced development of their capital cities for every homes and linked dwellings.
“The overall value of residential dwellings rose $1.8 trillion in the 12 months to the March quarter 2022 from $8.4 trillion in the March quarter 2021,” she mentioned.
The ABS mentioned the value of all dwellings in NSW combined is now $4.1 trillion, which is 40.1 per cent of the final value of dwellings in Australia.
New files from the Australian Bureau of Statistics (ABS) reveals the final value of Australia’s residential dwellings rose by $221.2 billion in the March quarter. (ABS)Victoria followed with 26.9 per cent, or $2.7 trillion after which Queensland with 16.7 per cent, $1.7 trillion.
The median house value in Sydney rose by 16.4 per cent to $1,245,000, and by 9.4 per cent to $930,000 in Melbourne, over the 12 months to the March quarter 2022.
Within the intervening time, in regional NSW, the median house value elevated 29.1 per cent to $800,300, and the Victorian areas noticed a upward push of 17.4 per cent to $640,000.
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