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Kooky
Builder of Shaka, the payment router that pays every agent their commission on closing date.
About Kooky and Shaka →The mean price of a Queensland home reached $1,123,700 in the March quarter 2026, according to the Australian Bureau of Statistics. Its Total Value of Dwellings release, published on 9 June 2026, shows the state's mean rose $49,800, or 4.6 per cent, from $1,073,900 in the December quarter 2025.
That puts Queensland second among the states and territories, behind New South Wales and ahead of Western Australia. It also puts the state above the national mean of $1,111,100, by $12,600.
How the states compare
The ABS publishes one mean price for each state and territory, covering houses and units, capital city and regions together. On that measure New South Wales remains well in front, and Queensland now sits just ahead of Western Australia, with the Australian Capital Territory the only other jurisdiction above $1 million.
Source: ABS, Total Value of Dwellings, March quarter 2026, released 9 June 2026. Preliminary estimates. Tasmania ($750.3k) and the Northern Territory ($597.3k) are not shown.
The gap to New South Wales is still wide: $201,100 on these figures. But Queensland's mean is now $176,600 above Victoria's and $105,700 above the Australian Capital Territory's. Western Australia sits $20,200 behind Queensland, and is closing fast.
The comparison with a year ago shows how quickly the order has changed. When the ABS published its first estimate for the March quarter 2025, on 10 June 2025, Queensland's mean was $944,700 and the bureau noted that the state had just moved ahead of the Australian Capital Territory. The national mean had just passed $1 million for the first time, at $1,002,500. Those first estimates have since been revised, so they are not an exact base for a growth rate, but they place the Queensland mean roughly $179,000 lower twelve months earlier.
Related readUnder 1 per cent of borrowers owe more than their home is worth, RBA saysWhat changed in three months
Queensland's rise of $49,800 was the second largest in dollar terms and in percentage terms. Western Australia was ahead on both counts. At the other end, the two most populous states barely moved, and Victoria's mean edged down.
| State or territory | Change in dollars | Change in per cent |
|---|---|---|
| Western Australia | +$73,700 | +7.2% |
| Queensland | +$49,800 | +4.6% |
| South Australia | +$34,400 | +3.7% |
| Tasmania | +$28,200 | +3.9% |
| Northern Territory | +$18,500 | +3.2% |
| ACT | +$13,700 | +1.4% |
| New South Wales | +$5,300 | +0.4% |
| Victoria | -$2,400 | -0.3% |
| Australia | +$22,300 | +2.0% |
Source: ABS, Total Value of Dwellings, March quarter 2026, released 9 June 2026. March quarter estimates are preliminary.
The March quarter continued a run. The same release puts Queensland's mean at $1,020,700 in the September quarter 2025, which means it has risen $103,000, or 10.1 per cent, in six months.
The earlier quarters have also been revised upwards. When the December quarter was first published, on 10 March 2026, the ABS put Queensland's mean at $1,066,000. The 9 June release shows the same quarter at $1,073,900, which is $7,900 higher. The national mean for December moved from $1,074,700 to $1,088,800 in the same revision. Revisions of that size are a reminder that the March figure is a first estimate and will move as well.
The revision was upward almost everywhere. Victoria's December mean went from $933,100 to $949,500, Western Australia's from $1,014,200 to $1,029,800, and the Australian Capital Territory's from $973,800 to $1,004,300, which moved it above $1 million after the fact. For Queensland, the rise between the September and December quarters was first published as $48,800 and now stands at $53,200. Taken with the March figure, the state's mean has risen by about $50,000 a quarter for two quarters running.
The largest gain in total value
The ABS release is mainly about the value of the whole housing stock. Nationally, it puts the total value of residential dwellings at $12,772.6 billion in the March quarter, or about $12.8 trillion, up $315.9 billion, or 2.5 per cent, in three months and 11.9 per cent over the year.
Related readSouth-east Queensland sellers adjust as homes take longer to sellQueensland contributed more of that rise than any other state. The value of its dwellings increased by $127.9 billion, or 5.2 per cent, in the quarter. That is about 40 per cent of the national increase. Western Australia added $92.7 billion, a rise of 7.5 per cent. Together the two states account for about 70 per cent of the national gain, although the ABS notes that total value rose in every state and territory.
The series published with the release shows how unusual the past year has been. The national total stood at $11,409.4 billion in the March quarter 2025, so it has grown by $1,363.2 billion in twelve months. It first passed $10 trillion in the March quarter 2022, took until the June quarter 2024 to pass $11 trillion, and passed $12 trillion in the December quarter 2025. Five years ago, in the March quarter 2021, it was $8,302.3 billion.
The same series is a reminder that the total can fall. After the March quarter 2022 it declined for two quarters, to $9,730.0 billion in the September quarter 2022, a drop of 3.6 per cent during the Reserve Bank's previous run of rate rises. It did not return above its earlier level until the June quarter 2023.
Almost all of this wealth sits with households. Of the March quarter total, the ABS attributes $12,266.8 billion, or 96 per cent, to dwellings owned by households. The remainder belongs to governments, companies and other owners.
Total value rises for two reasons: prices go up, and new homes are added. The ABS counts 11,495,200 residential dwellings in Australia at the end of the March quarter, 54,200 more than three months earlier. In Queensland this quarter the first reason did most of the work, since the total grew 5.2 per cent and the mean price 4.6 per cent. The same logic explains how Victoria's total could rise while its mean fell slightly: the state has more homes than it did in December.
Related readSunshine Coast home values ease from their autumn peak after a long runHow the ABS builds the figure
The bureau's methodology sets out a scope that is wider than most property indexes. It covers every property whose primary purpose is residential, whoever owns it: owner-occupied homes, private rentals and government-owned housing, and detached houses, townhouses and apartments alike. The mean price is the total value of that stock divided by the estimated number of dwellings.
Most of those homes did not sell in the quarter. The ABS estimates their value from the ones that did, grouping sales by small area and by dwelling type and applying the result to the unsold homes in the same group. The number of dwellings starts from the latest Census count and is moved forward with data on completed homes.
Neither input is complete when a quarter is first published, which is why each figure passes through three stages.
- First releasePreliminary. Too few sales are recorded, so state price movements come from Cotality's hedonic index.
- Next releaseRevised. Recorded sales and updated completions replace the first estimate.
- Third releaseTreated as final. Changed afterwards only in exceptional cases.
The March quarter 2026 is at the first stage. The ABS states that all estimates for the current quarter are preliminary, and that revisions to earlier quarters are standard practice in the series.
Why this number differs from the monthly medians
Readers who follow monthly figures will notice that $1,123,700 does not match the medians published elsewhere, and it is not meant to. The ABS itself asks users to take care when comparing the two kinds of measure.
A mean is the average value of every dwelling. A median is the value in the middle of the range. A mean is pulled upwards by expensive homes in a way a median is not, so it usually sits above the median for the same area. Cotality's Home Value Index for May, published on 1 June, gives a median of $1,126,149 for Greater Brisbane and $856,168 for regional Queensland. A median for the whole state would fall between those two, and the ABS mean for the whole state is close to the top of that range.
The ABS figure is also three months old on the day of publication. The March quarter included the Reserve Bank's rate rises of February and March but ended before the third, on 5 May, which took the cash rate to 4.35 per cent. More recent monthly data points the same way as the ABS but more gently: Cotality's index showed Brisbane values up 0.9 per cent in May, while its national index was flat and Sydney and Melbourne fell.
What the ABS adds is the long view, measured by a public statistical agency across the whole stock. On that measure, the average Queensland home was worth more than the average Australian home in early 2026, and the state's housing as a whole gained more value in three months than any other state's. The June quarter estimates, which will cover the months since the May rate rise, are due from the ABS in September.
Kooky, from Shaka
Kooky edits Queensland Estate and builds Shaka, the payment router he made for Queensland property professionals. One payment comes in, and every agent, agency and party in the deal receives their signed share on closing date.
