The Australian Bureau of Statistics has reported that the value of Australian homes has slowed.
While the total value nationwide still rose, the growth for the three months ending in December 2024 was stagnant.
Across Australia's 11.3 million residential dwellings, the value increased by just 0.2% or $26.4 billion.
Quarterly growth in the value of dwellings varied across states, with Queensland and Western Australia both rising by 1.8%, and South Australia by 2.4%.
Meanwhile, New South Wales and Victoria saw a decline of 0.4% and 1.1% respectively.
“The relatively flat growth for the December quarter was the result of net additions to stock offsetting a slight fall in property prices. Annually, growth slowed to 4.4% from 8.1% in the December quarter 2023," said Dr Mish Tan, ABS head of finance statistics.
“Consistent with results across 2024, growth in the value of dwellings by state continues to diverge, reflecting a variation in local market conditions.”
