The total value of residential dwellings in Australia increased by $225.9 billion, reaching $10,911.8 billion in the June quarter, new ABS data showed.
The rise reflects growth across all states and territories, excluding Victoria. Of this total, $10,483.3bn is owned by households.
ABS data showed that the number of residential dwellings in Australia rose by 52,900 to 11,211,000 this quarter.
The mean price of residential dwellings also jumped by $15,600, bringing the national average to $973,300.
“The mean price in NSW remains the highest at $1,222,000,” according to the latest ABS estimates.
NSW leads with the highest mean dwelling price at $1,222,000, followed by the ACT at $953,900 and Victoria at $900,300.
The Northern Territory holds the lowest average at $538,000, showcasing significant price variation across the country, ABS reported.
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