What caused the total value of Australian residential property to fall in the June quarter?

Australia’s total residential dwelling value fell because softening property market conditions drove down national housing prices, according to data from the Australian Bureau of Statistics.

How much did the average Australian home price drop during the June quarter?

Lower property prices across several states drove the mean Australian dwelling price down by 0.7 per cent to $1.1 million, according to data from the Australian Bureau of Statistics.

Which Australian state experienced the largest decline in property prices?

New South Wales recorded the largest drop among major markets, with mean property prices falling 2.4 per cent to A$1.3 million, according to figures from the Australian Bureau of Statistics.

How does current property market performance compare to the prior year?

Despite the recent quarterly dip, the total value of Australian residential property reported by the Australian Bureau of Statistics remains 8.5 per cent higher than during the same period last year.

What broader market factors influenced previous Australian property value growth?

Prior to the June quarter contraction recorded by the Australian Bureau of Statistics, the Australian property market grew for six consecutive quarters. That previous expansion was primarily supported by high immigration rates and a tight nationwide rental supply.

Economy

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Australian housing stock value drops $34.1B in June quarter

Written by Liezl GambePublished Sep 8, 2026, 3:00 AM

Australia's total residential dwelling value fell 0.3% to $12.7 trillion in the June quarter.
Lower property prices drove the mean dwelling price down 0.7% to $1.1 million.
Softening housing market conditions led to the first total value decline since September 2022.

Australia's residential dwelling value fell $34.1 billion to $12.7 trillion in the June quarter as softening property market conditions drove national prices lower, according to the Australian Bureau of Statistics.

This quarterly decline marks the first drop in total housing stock value since the September quarter of 2022.

"The quarterly fall was driven by lower property prices, with the mean dwelling price falling by 0.7% to $1.1 million," said ABS Head of Finance Statistics Dr Mish Tan.

State performance remained split as New South Wales led the downturn with a 2.4% drop to $1.3 million, while Victoria fell 2.1% and the Australian Capital Territory dropped 1.3%.

Despite the quarterly dip, the total value of Australian residential property remains 8.5% higher than the same period last year.

The broader Australian property market previously expanded continuously across six consecutive quarters, supported by tight rental supply and high immigration rates.