What the latest figures show
Under the pressure of a housing crisis, Australia’s average dwelling price has passed the A$1 million mark. ABS data published this week put the average Australian dwelling price at A$1,002,500 in the first quarter of 2025, up 0.7% from the previous quarter.
The ABS figure covers about 11.3 million Australian dwellings and includes all property types, from free-standing houses to townhouses and apartments.
Why the national average looks the way it does
Location carries a lot of the weight. New South Wales, Australia’s most populous state, recorded the highest average dwelling price in the country at A$1.2 million, followed by Queensland at A$945,000.
Mish Tan of the ABS identified Western Australia, South Australia and Queensland as the “main drivers” of the price rise.
Is Australia’s experience unusual?
Michael Fotheringham, head of the Australian Housing and Urban Research Institute, was not surprised by the figure crossing A$1 million. He said many developed countries use the term “housing crisis,” but Australia’s price growth has been especially sharp, making it one of the least affordable housing markets in the world.
By way of comparison, Canadian Real Estate Association data puts the average UK house price at roughly half Australia’s, about £560,000, while Canada’s average is about A$763,000 (C$680,000). Fotheringham said Canada faces housing challenges similar to Australia’s, while the UK is clearly different because it has more council and social housing.
He also noted one point the UK and Australia share: both have set ambitious home-building targets. Australia wants to build 1.2 million homes over the next five years, while the UK plans to build 1.5 million.
The housing crisis is also emerging as a focus of Australia’s coming election.
Profitability on resale is easing from a high base
A separate set of figures points to a different kind of shift. Domain data shows that 97.4% of residential resales nationally were profitable in the first half of 2026, a slight fall of 0.1 percentage points from a year earlier.
Analysts see the same direction in other datasets. Megan Lieu, a senior economic analyst at property technology company REA Group, said data from the company’s realestate site also shows the national share of profitable residential resales continuing to fall, reflecting weakening market heat. Cotality, a property data firm, found both national prices and transaction volumes slowing together.
The Domain report describes increasingly obvious regional divergence within the Australian housing market.
Frequently asked questions
What was Australia’s average dwelling price in the first quarter of 2025?
It was A$1,002,500, according to ABS data published that week, which was 0.7% higher than the previous quarter.
Which state had the highest average dwelling price?
New South Wales, Australia’s most populous state, had the highest average at A$1.2 million, followed by Queensland at A$945,000.
What share of Australian homes sold at a profit in the first half of 2026?
Domain data shows 97.4% of residential resales nationally were profitable in that period, down 0.1 percentage points from a year earlier.
What types of dwellings does the ABS figure cover?
The data covers about 11.3 million Australian dwellings across property types, from free-standing houses to townhouses and apartments.