NSW Average Dwelling Value Surpasses $1 Million
Kanebridge News
Share Button

NSW Average Dwelling Value Surpasses $1 Million

The total value of residential dwellings in Australia has exceeded $8 trillion.

By Terry Christodoulou
Wed, Jun 16, 2021Grey Clock < 1 min

According to the latest figures from the Australian Bureau of Statistics (ABS), the total value of Australia’s 10.6 million residential dwellings rose by $449.9 billion to $8.29 trillion in the March quarter of 2021.

While CoreLogic reported a national residential dwelling value of $8.1 trillion back in May, the amount has now been verified by the ABS.

Moreover, NSW accounted for approximately 40%, or, $3.3 trillion of Australia’s total value of dwellings. The average price of residential dwellings in NSW rose to $1.01 million during the period.

“This was the first time any state or territory had seen the average price of dwellings rise above $1 million,” said ABS Head of Prices Statistics Michelle Marquardt.

Residential property prices rose 5.4% in the March quarter 2021. The ABS confirmed this was the strongest quarterly growth since the December quarter 2009.

All capital cities recorded a rise in residential property prices in the March quarter 2021, with Sydney top of the list (6.1%). Property prices also rose in Melbourne (5.1%)., Perth (5.2%), Brisbane (4 %) Adelaide (4%), Canberra (5.6%), Hobart (6.1%), and Darwin (4.7%).

The average price of residential dwellings in Australia was $779,000 up from $739,000 for the period.

Annually, residential property prices rose 7.5%, with rises in all capital cities.


Interior designer Thomas Hamel on where it goes wrong in so many homes.

Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.

Related Stories
By Robyn Willis
Fri, Aug 19, 2022 < 1 min

Treechangers seeking a home and income should take note of this west coast property in picturesque Pickering Brook in the Perth Hills, which comes with its own live-in residents.

Known as ‘the Margaret River of the Hills’ the area boasts stunning bushland while being just 30 minutes from all the amenity Perth has to offer.

With eight bedrooms and 10 bathrooms, this property is a home and business, operating as a thriving day spa, Hidden Valley Eco Lodges and Day Spa.

The private main residence is made of rammed earth for thermal comfort and has three bedrooms, luxurious bathroom and a large open plan living area. A private jacuzzi on the spacious entertaining deck is the perfect spot for enjoying beautiful bushland views at the end of a long day.

For day spa guests, there are four deluxe spa treatment rooms serviced by qualified staff, a reception area and lounge plus a commercial kitchen. Overnight guests can choose from five lodges with fully equipped kitchen and heated jacuzzi. As a going concern with a consistently high annual turnover, it’s a unique opportunity for the right buyer.

Set over 5.46ha, the property is also home to a very special group of residents: a small herd of alpacas, which are included in the sale.

Price guide: $6.5 million

Inspection: By expression of interest

Agent: Susanne Broido, The Agency 0499 770 237