To The Moon

Full story: https://grafa.com/en/news/australia/australian-housing-stock-value-drops-34-1b-in-june-quarter

• 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.

dwellings June 2026 quarter

"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.