Australian Home Values Exceed $10 Trillion
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Australian Home Values Exceed $10 Trillion

Across the country, the average price of a residential dwelling now stands at $941,900.

By Kanebridge News
Wed, Jun 15, 2022 11:05amGrey Clock < 1 min

The value of Australian homes has risen to 10.2 trillion for the first time ever in the March quarter, according to the Australian Bureau of Statistics.

NSW accounted for 40.1% of the overall amount — or $4.1 trillion, followed by Victoria with 26.9% ($2.7 trillion) and Queensland with 16.7% ($1.7 trillion).

By comparison, the nation’s 10.8 million homes were worth a combined 8.4 trillion in the same quarter last year — a $1.8 trillion jump in 12 months.

Across the country, the average price of a residential dwelling now stands at $941,900, up from the $925,300 in the December quarter of 2021.

The median house price in Sydney rose by 16.4% to $1,245,000, and by 9.4 %to $930,000 in Melbourne, over the 12 months to the March quarter 2022.

Regional Victoria’s median house price also lifted 17.4 % to $640,000, while regional NSW saw the median house price increase 29.1% to $800,300.

More recent estimates of Melbourne’s median house price up even high at $960,000 this month indicates the property market coupled already be worth more.

However, with rates expected to continue to rise and a market that is currently softening the future total values of the Australian market could fall as dwelling values fall.



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Jennifer Lopez and Ben Affleck have officially put their massive Los Angeles mansion on the market for $68 million.

The lavish Beverly Hills property hit listing sites on Thursday, months after rumours began that the couple, who are reportedly estranged , were shopping the home around only a year after buying it for nearly $61 million.

The roughly 5-acre property—which is in a gated community and spans a massive 38,000 square feet—includes an indoor sports court with an adjacent gym and games room, according to the listing with Santiago Arana of the Agency. The firm declined to comment.

Lopez and Affleck paid $60.8 million for the compound in 2023.
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Built in 2000, the house has 12 bedrooms and a whopping 24 bathrooms. The resort-sized property has the amenities to match, including a V-shaped pool with views over the surrounding hills, a detached two-bedroom guardhouse and a 5,000-square-foot guest penthouse, according to the listing.

Listing images of the house show that Lopez and Affleck have spent the past year warming up what were fairly white-washed interiors when they purchased the home. There’s now a rich, green-painted dining room, hardwood floors and carpeted over cold, polished-stone flooring.

The couple, who got married in 2022 after reuniting some 20 years after they called off their engagement in the early 2000s, purchased the megamansion following a house hunt that went on for several months, The Wall Street Journal reported at the time.

Representatives for Lopez, 54, and Affleck, 51, did not immediately respond to requests for comment.

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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