What was the total value of Australia's residential property market in the March quarter of 2026?

The total value of Australia’s residential dwellings reached a record $12.8 trillion in the March quarter of 2026, according to the Australian Bureau of Statistics (ABS). The nation’s housing stock added $315.9 billion over the three-month period, driven by persistent growth in property prices.

Is the Australian property market accelerating or slowing down in early 2026?

The pace of growth in the Australian property market is showing early signs of deceleration. Data from the ABS indicates that dwelling value growth moderated during the March quarter, following a remarkably strong surge in late 2025.

How does the current value of Australian residential property compare to last year?

Despite the recent moderation in quarterly growth, Australia’s housing market remains highly resilient on an annual basis. The total value of the nation's dwelling stock sits 11.9 per cent higher than it did during the same period last year.

Which Australian states are driving the strongest growth in property prices?

Western Australia and Queensland recorded the strongest performance in the March quarter. Property values surged by 7.2% (an increase of $73,700) in Western Australia and 4.6% (an increase of $49,800) in Queensland.

Why is the Australian housing market currently described as a "multi-speed market"?

The market is described as multi-speed because capital growth is highly fragmented across different states. While Western Australia and Queensland are experiencing strong momentum, states like New South Wales and Victoria are seeing comparatively modest gains or minor price declines.

What is happening to property prices in Victoria compared to the rest of Australia?

Victoria has emerged as a distinct market outlier, being the only state or territory to record a decline in the March quarter. The mean price of residential dwellings in Victoria dipped 0.3 per cent, representing a loss of $2,400.

Economy

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Australian property value hits record $12.8 trillion

Written by Brie CarterPublished Jun 9, 2026, 2:15 AM

Australia's property market has reached a milestone, with the total value of residential dwellings climbing 2.5% to hit a record $12.8 trillion in the March quarter.

According to the latest data released by the Australian Bureau of Statistics, the nation’s housing stock added $315.9 billion in value over the three-month period, driven by persistent property price growth.

While the figures signal health for the sector, the pace of growth is showing early signs of deceleration.

Dr Mish Tan, the ABS head of finance statistics, noted that growth in dwelling values moderated this quarter following a remarkably strong surge in late 2025.

Nevertheless, Australia’s housing market remains highly resilient on an annual basis, with the total value of the dwelling stock sitting 11.9% higher than the same period last year.

A closer look at the state-by-state data reveals a distinct multi-speed market, with Victoria emerging as the sole outlier.

Victoria was the only state or territory to record a decline, with the mean price of residential dwellings dipping 0.3%, or $2,400.

Western Australia led the nation with a 7.2% growth ($73,700), closely followed by Queensland at 4.6% ($49,800).

Dr Tan highlighted that annual price growth has been most potent across Western Australia, the Northern Territory, and Queensland, vastly outpacing the comparatively modest gains seen in New South Wales and Victoria over the past twelve months.