The Australian property market is as dynamic and intriguing as ever, with its own unique characteristics and trends. In this discussion, we delve into some compelling statistics about the Australian property market. From the staggering worth of the Australian housing market to the innovative strategies for marketing properties, join us as we uncover 5 interesting 2023 Australian property market statistics.
- The Australian housing market is worth more than 9 trillion Australian dollars. [1]
- In March 2022, the value of residential real estate in Australia was $10,145.8 trillion. However, the value decreased to $9,983.4 trillion in 2022. [1]
- Australian home prices declined by 8.4% in January 2023. [2]
- The median value of residential dwellings across Australia as of October 2022, by city, was: Sydney AUD 1,206,500, Melbourne AUD 1,056,000, Brisbane AUD 720,000, Adelaide AUD 637,000, Perth AUD 647,000, Hobart AUD 680,000, Darwin AUD 630,000, Canberra AUD 914,000. [1]
- According to real estate experts, an upswing in house pricing is likely in 2023. Every indication points to a sustained increase in house values, as the population and economy continue to grow. [3]