richer.au / Data

Data · Latest available official statistics

Australian Economic & Investment Dashboard.

Inflation, interest rates, growth, jobs, wages, population, incomes and property — the numbers that move Australian investments, straight from the ABS and RBA, with the date beside every figure and a plain-English reading of what they suggest.

01Australia now

Latest available data · checked 27 October 2026

The latest official figure for each indicator, grouped by theme: how it changed, the period it describes and when it was released. Periods differ by design — the period is printed on every card. Arrows show direction only: up is not automatically good, and down is not automatically bad.

Prices & interest rates

Inflation (CPI)

ABS
4.0%
↑+0.5 pts vs previous month
12 months to August 2026 Released 30 Sep 2026 · Next 28 Oct 2026
Detail

Trimmed mean inflation

ABS
3.6%
→Unchanged vs previous month
RBA target: 2–3%, midpoint 2.5%
12 months to August 2026 Released 30 Sep 2026 · Next 28 Oct 2026
Detail

RBA cash rate

RBA
4.60%
↑+0.25 pts at the most recent change
Next decision: 3 November 2026 · +1.00 pts over 12 months
Effective 30 September 2026 Released 29 Sep 2026
Detail

10-year bond yield

RBA
5.28%
↑+0.03 pts vs previous trading day
+1.17 pts over 12 months
21 October 2026 Released 23 Oct 2026
Detail

Growth, jobs & wages

GDP growth, year

ABS
2.1%
↓−0.4 pts vs previous quarter's annual rate
Latest quarter: +0.4%
year to June 2026 Released 2 Sep 2026 · Next 2 Dec 2026
Calculated by richer.au from ABS data
Detail

GDP per person, year

ABS
0.7%
↓−0.3 pts vs previous quarter's annual rate
Growth after population growth
year to June 2026 Released 2 Sep 2026 · Next 2 Dec 2026
Calculated by richer.au from ABS data
Detail

Unemployment rate

ABS
4.7%
↑+0.1 pts vs previous month
+0.3 pts over the year
September 2026 Released 15 Oct 2026 · Next 19 Nov 2026
Detail

Wage growth, year

ABS
3.2%
→Unchanged vs previous quarter's annual rate
Real (after inflation): −0.7%
year to June 2026 Released 19 Aug 2026 · Next 18 Nov 2026
Detail

People & housing

Population

ABS
27.92m27,921,150
↑+130,887 vs previous quarter
+1.4% over the year (+392,728 people)
31 March 2026 Released 17 Sep 2026 · Next 17 Dec 2026
Detail

Population growth

ABS
1.4%
↓−0.1 pts vs a year earlier
+392,728 people over the year
year to March 2026 Released 17 Sep 2026 · Next 17 Dec 2026
Detail

Dwelling approvals

ABS
16,967
↑+10.3% vs same month a year earlier (original series)
208,145 in the past 12 months (+9.5%)
August 2026 Released 30 Sep 2026 · Next 2 Nov 2026
Detail

Mean dwelling price

ABS
$1,100,400
↓−0.7% vs previous quarter
+6.8% over the year
June quarter 2026 Released 8 Sep 2026 · Next 1 Dec 2026
Detail

Australian Economic Conditions

Direction of each indicator against the comparison shown. A summary of the data, not a forecast or a recommendation.

Population growth ↓ Slowing 1.4% Annual growth, year to March 2026, vs a year earlier
Inflation (trimmed mean) ↑ Rising 3.6% Annual trimmed mean, August 2026, vs three months earlier
Interest rates ↑ Rising 4.60% RBA cash rate target vs 12 months earlier
GDP growth ↓ Slowing 2.1% Real GDP, annual growth, year to June 2026, vs previous quarter's annual rate
Unemployment ↑ Rising 4.7% Unemployment rate, September 2026, vs a year earlier
Wage growth ↓ Slowing 3.2% Wage Price Index, year to June 2026, vs a year earlier
Housing approvals ↑ Rising 208,145 Dwelling approvals, 12 months to August 2026, vs previous 12 months
Dwelling prices ↑ Rising $1.10m ABS mean dwelling price, June quarter 2026, vs a year earlier

Population growth remains positive but has slowed (1.4% in the year to March 2026, compared with 1.5% a year earlier).

Underlying (trimmed mean) inflation is 3.6%, above the RBA's 2–3% target range and higher than three months earlier (3.5%). Headline CPI inflation is 4.0% (year to August 2026).

The RBA cash rate target is 4.60%, 1.00 percentage point higher than a year earlier. The most recent change was +0.25 percentage points, effective 30 September 2026.

Real GDP grew 2.1% over the year to June 2026 (0.4% in the June quarter 2026 alone) — a slower pace than the previous quarter's annual rate of 2.5%.

The unemployment rate is 4.7% (September 2026), up from 4.4% a year earlier.

Wages grew 3.2% over the year to June 2026 (Wage Price Index), 0.7 points behind inflation over the same period, so real wages fell.

Dwelling approvals totalled 208,145 in the 12 months to August 2026, 9.5% more than the previous 12 months.

New investor housing loan commitments were $37.1bn in the June quarter 2026, 8.1% higher than a year earlier and 10.2% lower than the previous quarter.

The mean price of a residential dwelling was $1,100,400 in the June quarter 2026, 6.8% higher than a year earlier and 0.7% lower than the previous quarter (ABS Total Value of Dwellings).

Generated automatically from the statistics on this page each time new data is verified.

Commentary · generated from the figures above

What the data suggests.

A plain-English reading of the latest releases, rebuilt automatically each time new data is verified (last rebuilt 27 October 2026). It describes what the numbers show and how they fit the RBA's framework. It is not a forecast and not advice.

Inflation

Underlying inflation — the trimmed mean, which strips out the most extreme price moves each month — is 3.6% in the 12 months to August 2026, above the RBA's 2–3% target band and higher than three months earlier (3.5%). Headline CPI is 4.0%, above the underlying rate, with electricity prices (13.2%) the fastest-rising single category.

What it suggests: price pressures are building rather than fading. The trimmed mean sits 1.1 points above the 2.5% midpoint the RBA aims for, so this is not only an energy or food story — it is showing up across the basket.

Interest rates

The cash rate target is 4.60%, 1.00 percentage points higher than a year ago after 4 rises and 0 cuts. Against underlying inflation of 3.6%, the real cash rate is about +1.0% — a restrictive setting, because borrowing costs exceed the rate at which prices are rising.

The 10-year government bond yield is 5.28%, above the cash rate by 0.68 points. A long-term rate above the cash rate usually means investors expect rates to stay elevated, or want extra compensation for lending for a decade — either way, the market is not pricing a quick return to cheap money. The average rate on new owner-occupier mortgages is 6.20% (August 2026), 0.70 points higher than a year earlier.

What it suggests: with underlying inflation above the band, the RBA's framework points one way — hold policy restrictive, and tighten further if inflation is not falling back towards the midpoint. Lower rates depend on the trimmed mean moving back inside 2–3%, not on growth slowing by itself. The next scheduled decision is on 3 November 2026.

Growth

Real GDP grew 2.1% over the year to June 2026 (+0.4% in the latest quarter). Per person, output grew 0.7% — most of the headline growth is population growth rather than higher output per person.

What it suggests: growth of 2.1% is around the 2–2½% a year that economists commonly treat as Australia's trend. Growth around trend neither adds to nor subtracts much from inflation pressure. Households are saving 6.5% of their disposable income (June quarter 2026, up from 6.4%), a moderate buffer. Business investment is growing 10.4% a year.

Jobs, wages & incomes

Unemployment is 4.7% (September 2026), up from 4.4% a year earlier, with 66.8% of adults in work or looking for it and employment +1.2% over the year.

What it suggests: RBA estimates of the unemployment rate consistent with full employment — where the jobs market neither adds to nor subtracts from inflation — have centred on about 4.5%. At 4.7% the labour market is around that estimate — neither clearly adding to inflation nor clearly easing it. Wages grew 3.2% over the year to June 2026 — 0.7 points behind inflation over the same period, so real pay fell. That is inside the 3–3½% range the RBA has described as compatible with its target if productivity grows at its long-run pace of about 1% a year. Full-time adults earned $2,083.70 a week on average in May 2026 (+3.7% over the year).

Incomes differ by state: median personal income was highest in the ACT ($75,643) and lowest in TAS ($53,479) in 2022–23, a gap of 41%. Full-time weekly earnings are highest in the ACT and WA (May 2026).

Housing

208,145 dwellings were approved in the 12 months to August 2026, 9.5% more than the previous 12 months. Set against population growth, that is 508 approvals for every 1,000 people added over the 12 months to March 2026. With about 2.5 people per household, roughly 400 dwellings per 1,000 new residents are needed just to house population growth — before replacing homes that are demolished. What it suggests: approvals are running a little ahead of the bare population requirement, which is roughly what it takes once demolitions and approvals that never get built are allowed for — supply is about keeping pace, not catching up.

The ABS mean dwelling price was $1,100,400 in the June quarter 2026, 0.7% down over the quarter and 6.8% up over the year. Over the year, prices rose fastest in WA (+22.9%) and were flat in VIC (0.0%). The mean dwelling costs about 10.2 years of full-time ordinary-time earnings.

Investors committed to $37.1bn of new housing loans in the June quarter 2026, 8.1% more than a year earlier — 38.0% of all new housing lending. What it suggests: investor demand is growing at a moderate pace. Rents in the CPI are rising 3.6% a year nationally (August 2026).

Bottom line

Taken together, the latest releases describe inflation above target and rising, a restrictive cash rate, growth driven mainly by population, a balanced jobs market and housing approvals roughly matching population growth.

For anyone with debt, the practical reading is that borrowing costs are set to stay high until underlying inflation is back inside 2–3% — and the trimmed mean is the number that decides it. For savers, a positive real cash rate means cash is earning more than inflation.

These are readings of the latest official statistics, not forecasts, and every figure above is revised over time. They are general information only and not financial advice.

What to watch next

  1. 28 Oct 2026Consumer Price Index (monthly) · CPI by capital city (monthly)
  2. 2 Nov 2026Building approvals
  3. 3 Nov 2026RBA cash rate decision
  4. 11 Nov 2026Housing lending (new loan commitments)
  5. 18 Nov 2026Wage Price Index
  6. 19 Nov 2026Labour force

02Inflation

12 months to August 2026 · ABS

Headline CPI, annual

ABS
4.0%
↑+0.5 pts vs previous month
12 months to August 2026 Released 30 Sep 2026 · Next 28 Oct 2026

Trimmed mean, annual

ABS
3.6%
→Unchanged vs previous month
RBA target: 2–3%, midpoint 2.5%
12 months to August 2026 Released 30 Sep 2026 · Next 28 Oct 2026

Headline vs trimmed mean

Headline CPI measures the change in prices of everything in the basket. The trimmed mean drops the most extreme price changes each period, so it shows the underlying trend and is the measure the RBA watches most closely. Both are shown against the 2–3% target below.

The target range and what the RBA does in each case

The Government and the RBA have agreed that monetary policy should keep consumer price inflation between 2% and 3%, and the RBA Board sets policy so that inflation is expected to return to the 2.5% midpoint. Where underlying inflation sits relative to that band largely determines the direction of interest rates.

Now 3.6% Trimmed mean, 12 months to August 2026 · headline 4.0%
Where we are now

Above the band

Above 3%

What it meansPrices are rising faster than the economy can sustain; the real value of cash, wages and fixed incomes is being eroded faster than intended.

What the RBA typically doesKeeps the cash rate at a restrictive level — above inflation — and raises it further if inflation is not expected to return to the midpoint in a reasonable time. Rate cuts wait until underlying inflation is clearly heading back inside the band.

Scenario

Inside the band

2% to 3%

What it meansInflation is low enough that it does not distort decisions, and high enough to keep the economy clear of deflation. The RBA aims for the 2.5% midpoint, not just the band.

What the RBA typically doesHolds, and moves gradually. With inflation inside the band the Board weighs its second objective — full employment — more heavily: a soft jobs market can justify cuts, a tight one can justify keeping rates where they are.

Scenario

Below the band

Below 2%

What it meansDemand is weak: businesses cannot lift prices, wage growth usually slows, and the risk shifts to falling prices and rising real debt burdens.

What the RBA typically doesCuts the cash rate to lift demand, and has in the past used other tools (bond purchases, forward guidance) when the cash rate was already near zero.

Source: Statement on the Conduct of Monetary Policy (Australian Government and RBA, December 2023). The RBA judges inflation mainly on the trimmed mean and on its own forecasts, so the live reading is a guide to the pressure on policy, not a mechanical rule.

Annual inflation since 1983, against the target

Quarterly CPI, seasonally adjusted, and trimmed mean. Shaded band: RBA target range of 2–3%; dotted line: the 2.5% midpoint the Board aims for.

Monthly CPI, annual % change, against the target

The ABS complete monthly CPI begins in 2025, so this chart is short. Shaded band: RBA target range; dotted line: 2.5% midpoint.

Cash rate and underlying inflation

End-of-quarter cash rate target, trimmed mean inflation (annual %), and the gap between them — the real cash rate. When the purple line sits above the orange one, borrowing costs exceed underlying inflation and policy is restrictive; the reverse is accommodative.

Annual inflation by category, 12 months to August 2026
  1. Electricity 13.2% prev. 6.1%
  2. Housing 5.7% prev. 5.0%
  3. Transport 5.6% prev. 1.6%
  4. Insurance 5.6% prev. 4.2%
  5. Education 4.7% prev. 4.8%
  6. Health 3.9% prev. 3.8%
  7. Rents 3.6% prev. 3.6%
  8. Food and non-alcoholic drinks 3.0% prev. 3.2%
  9. Recreation and culture 2.9% prev. 2.6%

Original series, % change on the same month a year earlier. "Prev." is the previous month's annual rate. Electricity prices are affected by the timing of government rebates.

Annual CPI inflation by capital city, 12 months to August 2026
  1. TAS4.8%
  2. SA4.7%
  3. NT4.5%
  4. WA4.3%
  5. QLD4.1%
  6. ACT4.1%
  7. NSW3.9%
  8. VIC3.5%

Australia: 4.0%

Inflation by capital city, annual % change

Monthly CPI, all groups, original. State codes stand for their capital cities (NSW = Sydney, VIC = Melbourne and so on); the ABS measures the CPI in the eight capitals. Tap a name to show or hide it.

03Interest rates

RBA · APRA
Current RBA cash rate target 4.60% ↑ +0.25 pts at the latest change, effective 30 September 2026 (announced 29 September 2026)
12 months ago
3.60%
Moves in the past 12 months
4 up · 0 down
Real cash rate
+1.00%Cash rate less trimmed mean inflation · restrictive
Next scheduled decision
3 November 2026Announced at 2:30pm AEDT/AEST on the final day of the meeting
RBA cash rate target

Each marker is a change in the target: ▲ increase, ▼ decrease. Targets announced in early 1990 were ranges; the mid-point is shown.

Owner-occupier rate, new loans

RBA/APRA
6.20%
→Unchanged vs previous month
August 2026 Released 8 Oct 2026

Investor rate, new loans

RBA/APRA
6.40%
→Unchanged vs previous month
August 2026 Released 8 Oct 2026

Real cash rate

RBA
1.00%
↑+0.25 pts vs end of Jun qtr 2026
Cash rate now less trimmed mean inflation, August 2026 Released 29 Sep 2026
Calculated by richer.au from RBA data

10-year government bond

RBA
5.28%
↑+0.03 pts vs previous trading day
21 October 2026 Released 23 Oct 2026
Average mortgage rates

Average interest rates on housing loans, all lenders. Monthly, from July 2019 (when APRA's current collection began).

Australian 10-year government bond yield

Monthly average. The daily yield appears in Markets below.

Real cash rate (cash rate less trimmed mean inflation)

End of quarter. Positive bars: policy restrictive (borrowing costs above underlying inflation). Negative bars: accommodative. richer.au calculation from RBA and ABS data.

Cash rate and 10-year bond yield

When the 10-year yield sits above the cash rate, markets are not pricing a quick fall in rates; when it drops below, they usually are.

Most recent changes to the cash rate target
EffectiveChangeNew target
30 September 2026+0.25 pts4.60%
6 May 2026+0.25 pts4.35%
18 March 2026+0.25 pts4.10%
4 February 2026+0.25 pts3.85%
13 August 2025−0.25 pts3.60%
21 May 2025−0.25 pts3.85%
19 February 2025−0.25 pts4.10%
8 November 2023+0.25 pts4.35%

04The economy

June quarter 2026 · ABS

Real GDP, quarter

ABS
0.4%
↑+0.1 pts vs previous quarter's growth
June quarter 2026 Released 2 Sep 2026 · Next 2 Dec 2026

Real GDP, year

ABS
2.1%
↓−0.4 pts vs previous quarter's annual rate
year to June 2026 Released 2 Sep 2026 · Next 2 Dec 2026
Calculated by richer.au from ABS data

GDP per capita growth, year

ABS
0.7%
↓−0.3 pts vs previous quarter's annual rate
Quarter: 0.0%
year to June 2026 Released 2 Sep 2026 · Next 2 Dec 2026
Calculated by richer.au from ABS data

Real GDP per person

ABS
$99,742
↑+$843 vs a year earlier
year to June 2026 Released 2 Sep 2026 · Next 2 Dec 2026
Calculated by richer.au from ABS data

Household saving ratio

ABS
6.5%
↑+0.1 pts vs previous quarter
June quarter 2026 Released 2 Sep 2026 · Next 2 Dec 2026

Terms of trade

ABS
94.8
↓−1.6% vs previous quarter
June quarter 2026 Released 2 Sep 2026 · Next 2 Dec 2026

Household consumption, year

ABS
1.8%
↓−0.6 pts vs previous quarter's annual rate
year to June 2026 Released 2 Sep 2026 · Next 2 Dec 2026
Calculated by richer.au from ABS data

Business investment, year

ABS
10.4%
↓−0.3 pts vs previous quarter's annual rate
year to June 2026 Released 2 Sep 2026 · Next 2 Dec 2026
Calculated by richer.au from ABS data

Growth against trend

Economists commonly treat about 2–2½% a year as Australia's trend (or potential) growth — the pace the economy can sustain without adding to inflation. Growth per person is the better guide to living standards when population growth is high.

Now 2.1% Real GDP, year to June 2026 · per person +0.7%
Scenario

Above trend

Above about 2½%

What it meansDemand is growing faster than the economy's capacity. Unemployment tends to fall and wage and price pressures build.

What it usually means for policyMakes it harder for inflation to fall; the RBA is less likely to cut and more likely to tighten if inflation is also above target.

Where we are now

Around trend

About 2–2½%

What it meansThe economy is growing at roughly its sustainable pace. Unemployment and inflation pressures are broadly stable.

What it usually means for policyNeutral: policy is driven by inflation and the labour market rather than by growth itself.

Scenario

Below trend

Below about 2%

What it meansSpare capacity is opening up. Unemployment tends to rise over time and inflation pressure eases — slowly when population growth is strong.

What it usually means for policySupports lower rates once inflation allows; the RBA will accept below-trend growth while inflation is above target.

Trend growth is an estimate, not an official target, and it changes as population growth and productivity change.

Real vs nominal GDP

Nominal GDP — the dollar value of everything produced — was $2.93 trillion over the year to June 2026, up 5.6% on the previous year. Much of that rise is higher prices. Real GDP strips out price changes and grew 2.1% over the same period. This dashboard uses real, seasonally adjusted measures for economic growth.

Inflation, nominal GDP growth and real GDP growth

All annual % change, quarterly. Inflation: CPI, seasonally adjusted. Nominal GDP: current prices. Real GDP: chain volume, seasonally adjusted. Nominal growth is roughly real growth plus the rise in prices across the whole economy. Shaded band: RBA 2–3% inflation target.

Real GDP growth

Bars: quarterly % change. Line: annual % change. Chain volume, seasonally adjusted. Shaded band: commonly cited trend growth of 2–2½%.

Real GDP per capita, annual % change

Negative bars mean output per person fell: the economy grew only because the population did.

Household consumption, annual % change
Private business investment, annual % change
Household saving ratio
Terms of trade

Export prices relative to import prices. Index, 2023–24 = 100.

05Jobs & the labour market

September 2026 · ABS

Unemployment rate

ABS
4.7%
↑+0.1 pts vs previous month
September 2026 Released 15 Oct 2026 · Next 19 Nov 2026

Employed people

ABS
14.78m14,782,670
↓−39,329 vs previous month
+1.2% over the year
September 2026 Released 15 Oct 2026 · Next 19 Nov 2026

Employment growth, month

ABS
−39,329
↓−68,611 vs previous month's change
Over the year: +1.2%
September 2026 (monthly change) Released 15 Oct 2026 · Next 19 Nov 2026

Participation rate

ABS
66.8%
↓−0.2 pts vs previous month
September 2026 Released 15 Oct 2026 · Next 19 Nov 2026

Underemployment rate

ABS
6.3%
↑+0.1 pts vs previous month
Employed but wanting more hours
September 2026 Released 15 Oct 2026 · Next 19 Nov 2026

Hours worked, month

ABS
2.01bn hrs
↑+0.1% vs previous month
+1.3% over the year
September 2026 Released 15 Oct 2026 · Next 19 Nov 2026

Full employment and what the RBA does in each case

The RBA's second objective is full employment: the lowest unemployment rate that can be sustained without pushing inflation up. RBA staff estimates of that rate have centred on about 4½%, with wide uncertainty. Where unemployment sits relative to it shapes how much weight the Board gives to jobs versus inflation.

Now 4.7% Unemployment rate, September 2026 · a year earlier 4.4%
Scenario

Tighter than full employment

Unemployment below about 4¼%

What it meansWorkers are scarce. Wages grow faster, which supports incomes and rents but also feeds inflation.

What the RBA typically doesTreats the labour market as a source of inflation pressure: holds rates higher for longer, and is reluctant to cut even if growth is slow.

Where we are now

Around full employment

About 4¼–4¾%

What it meansThe jobs market is roughly balanced — neither adding to inflation nor clearly easing it.

What the RBA typically doesLets inflation decide: with inflation above target it keeps policy restrictive; with inflation inside the band it can hold or ease.

Scenario

Looser than full employment

Unemployment above about 4¾%

What it meansSpare capacity is building. Wage growth slows and household incomes come under pressure.

What the RBA typically doesGives more weight to jobs: cuts the cash rate if inflation is at or heading back to target, and tolerates inflation returning to the midpoint more slowly rather than pushing unemployment higher.

The full-employment estimate is unobservable and is revised; the RBA publishes its thinking in each Statement on Monetary Policy.

Unemployment and underemployment rates

Seasonally adjusted. Dotted line: the RBA's approximate estimate of the unemployment rate consistent with full employment.

Employment, annual % change
Participation rate
Hours worked, annual % change

Unemployment rate by state

Western Australia Northern Territory South Australia Queensland New South Wales Victoria Tasmania Australian Capital Territory

Unemployment rate, September 2026, trend. ABS trend estimates are used for every state because the NT and ACT are not seasonally adjusted.

Tap or select a state to see its figures.

Unemployment rate by state, September 2026 (trend)
  1. TAS5.2%
  2. VIC5.1%
  3. NT4.8%
  4. NSW4.5%
  5. QLD4.5%
  6. WA4.3%
  7. SA4.3%
  8. ACT4.2%

Australia: 4.6%

Employment growth by state, 12 months to September 2026 (trend)
  1. WA+2.9%
  2. QLD+1.7%
  3. NSW+1.5%
  4. VIC+0.9%
  5. ACT+0.8%
  6. SA+0.6%
  7. NT0.0%
  8. TAS−2.4%

Australia: +1.4%

06Wages & incomes

year to June 2026 · ABS

Three different measures, three different periods. The Wage Price Index tracks the price of the same job over time (quarterly). Average weekly earnings is what full-time adults actually earn, including the effect of people moving between jobs (twice a year). Personal income is what people declared to the ATO, by state (annual, with a lag of about two and a half years).

Wage growth (WPI), year

ABS
3.2%
→Unchanged vs previous quarter's annual rate
year to June 2026 Released 19 Aug 2026 · Next 18 Nov 2026

Wage growth (WPI), quarter

ABS
0.8%
→Unchanged vs previous quarter's growth
June quarter 2026 Released 19 Aug 2026 · Next 18 Nov 2026

Real wage growth, year

ABS
-0.7%
↑+0.1 pts vs previous quarter
year to June 2026 Released 19 Aug 2026 · Next 18 Nov 2026
Calculated by richer.au from ABS data

Average weekly earnings, full-time

ABS
$2,083.70
↑+3.7% vs a year earlier
About $108,352 a year
May 2026 Released 13 Aug 2026 · Next 25 Feb 2027

Median personal income

ABS
$58,216
↑+5.7% vs previous income year
2022–23 income year Released 14 Nov 2025

Reading wages against inflation

Real wages — pay growth minus inflation — decide whether households are getting ahead. RBA officials have described wage growth of about 3–3½% as compatible with the 2–3% inflation target if productivity grows at its long-run pace of about 1% a year; faster wage growth without productivity gains tends to feed back into prices.

Wage growth and the inflation target

Wages are the biggest cost in the economy, so the RBA watches whether pay growth is consistent with inflation settling at 2–3%. The answer depends on productivity: the faster output per hour grows, the faster wages can grow without lifting prices.

Now 3.2% Wage Price Index, year to June 2026 · real −0.7%
Scenario

Above the consistent range

WPI growth above about 3½%

What it meansPay is rising faster than prices plus productivity can absorb. Good for real incomes in the short run; a source of inflation pressure if it persists.

What the RBA typically doesReads it as evidence the labour market is too tight, and leans towards holding or raising rates until wage growth slows.

Where we are now

Inside the range

About 3–3½%

What it meansWage growth consistent with the target, provided productivity grows at roughly 1% a year. Real wages rise modestly once inflation is at target.

What the RBA typically doesNeutral on wages; policy is set by where inflation and unemployment are.

Scenario

Below the range

WPI growth below about 3%

What it meansWages are lagging. Household budgets tighten, especially when inflation is above target and real pay is falling.

What the RBA typically doesTakes it as a sign of spare capacity in the labour market, which supports lower rates once inflation allows.

Productivity growth is the swing factor: if it is weaker than 1% a year, the wage growth consistent with the target is lower too.

Wage growth against inflation

Annual % change, quarterly. Wage Price Index (all sectors, seasonally adjusted) and CPI (seasonally adjusted). When the green line is below the orange, real wages are falling.

Real wage growth (WPI less CPI)

Annual wage growth minus annual CPI inflation, same quarter. Positive: pay growing faster than prices. richer.au calculation from ABS data.

Average weekly earnings by state

Full-time adult average weekly ordinary time earnings, persons, seasonally adjusted. Published for May and November each year. Tap a state to show or hide it.

Wage growth by state, annual % change

Wage Price Index, original series, % change on a year earlier. Tap a state to show or hide it.

Earnings and incomes by state and territory

Western Australia Northern Territory South Australia Queensland New South Wales Victoria Tasmania Australian Capital Territory

Full-time adult average weekly ordinary time earnings, May 2026, seasonally adjusted (ABS Average Weekly Earnings).

Tap or select a state to see its figures.

Full-time average weekly earnings by state, May 2026
  1. ACT$2,293.30
  2. WA$2,227.40
  3. NSW$2,108.80
  4. QLD$2,042.20
  5. VIC$2,041.10
  6. NT$1,984.10
  7. SA$1,970.20
  8. TAS$1,846.30

Australia: $2,083.70

Median personal income by state, 2022–23
  1. ACT$75,643
  2. NT$66,831
  3. WA$62,207
  4. NSW$58,909
  5. VIC$57,907
  6. QLD$56,708
  7. SA$55,782
  8. TAS$53,479

Australia: $58,216

07Population & migration

31 March 2026 · ABS

Population at 31 March 2026, with growth and its components measured over the year to March 2026. Overseas migration and natural increase come from ABS quarterly estimates published in thousands, so state figures are rounded to the nearest hundred.

Population by state and territory

Western Australia Northern Territory South Australia Queensland New South Wales Victoria Tasmania Australian Capital Territory

Estimated resident population at 31 March 2026.

Tap or select a state to see its figures.

Annual population growth by state, year to March 2026
  1. WA+2.1%
  2. QLD+1.6%
  3. VIC+1.6%
  4. NT+1.5%
  5. ACT+1.3%
  6. NSW+1.1%
  7. SA+1.0%
  8. TAS+0.6%

Australia: +1.4%

Annual population growth by state

Tap a state name to show or hide it. Quarterly, % change on a year earlier.

Australia in 10 years

Projected population, 2036

ABS
31.16m31,160,201
↑+11.6% vs 31 March 2026 (actual)
Range: 30.09m (low) to 32.43m (high)
Projected at 30 June 2036 Released 23 Nov 2023

At today's growth rate

ABS
32.17m32,171,336
↑+15.2% vs 31 March 2026
31 March 2036 if growth stays at 1.4% a year Released 17 Sep 2026 · Next 17 Dec 2026
Calculated by richer.au from ABS data

How to read these

The ABS projection shows what happens under set assumptions about births, deaths and migration. It is not a forecast. It was built from 2022 data, and Australia has already grown faster than its medium path: 27.92m actual at 31 March 2026 against 27.81m projected for 30 June 2026. The second figure simply compounds the latest annual growth rate for 10 years.

Australian population: actual and projected

Solid: actual population. Dashed: ABS projections at 30 June each year (Series A high, B medium, C low; 2022 base) and a richer.au extrapolation of the latest annual growth rate.

Australian population
Annual population growth rate
Annual population increase
Net overseas migration and natural increase (year to each quarter)
Net interstate migration by state (year to each quarter)

Net interstate migration sums to zero across the states. Tap a state name to show or hide it.

08Property market

ABS prices, approvals & lending

Prices and values from the ABS Total Value of Dwellings (quarterly, built from CoreLogic sales data), the supply pipeline from building approvals (monthly) and credit from lending indicators (quarterly). Prices are a national mean across houses and units, so they move more slowly than any one suburb's median.

Mean dwelling price, Australia

ABS
$1,100,400
↓−0.7% vs previous quarter
+6.8% over the year
June quarter 2026 Released 8 Sep 2026 · Next 1 Dec 2026

Total value of dwellings

ABS
$12.69 trillion
↓−0.3% vs previous quarter
+8.5% over the year
June quarter 2026 Released 8 Sep 2026 · Next 1 Dec 2026

Price to full-time earnings

ABS
10.2×
Mean price Jun qtr 2026 ÷ annualised earnings May 2026 Released 8 Sep 2026 · Next 1 Dec 2026
Calculated by richer.au from ABS data
Mean dwelling price by state

ABS mean price of residential dwellings, quarterly, seasonally adjusted. The latest quarter is preliminary. Tap a state to show or hide it.

Dwelling prices, annual % change by state

Change in the ABS mean dwelling price on the same quarter a year earlier (richer.au calculation from ABS data).

Dwelling price change by state, year to June quarter 2026
  1. WA+22.9%
  2. QLD+15.4%
  3. NT+14.7%
  4. SA+12.9%
  5. TAS+8.8%
  6. ACT+3.0%
  7. NSW+1.9%
  8. VIC0.0%

Australia: +6.8%

Mean price ÷ full-time annual earnings, by state (calculated)
  1. NSW11.9×
  2. QLD10.6×
  3. WA9.7×
  4. SA9.6×
  5. VIC8.7×
  6. ACT8.2×
  7. TAS7.6×
  8. NT6.0×

Australia: 10.2×

Supply pipeline and credit

Dwelling approvals, month

ABS
16,967
↑+10.3% vs same month a year earlier (original series)
August 2026 Released 30 Sep 2026 · Next 2 Nov 2026

Approvals, past 12 months

ABS
208,145
↑+9.5% vs previous 12 months
12 months to August 2026 Released 30 Sep 2026 · Next 2 Nov 2026
Calculated by richer.au from ABS data

Houses, past 12 months

ABS
124,307
↑+10.7% vs previous 12 months
12 months to August 2026 Released 30 Sep 2026 · Next 2 Nov 2026
Calculated by richer.au from ABS data

Apartments & other, 12 months

ABS
83,838
↑+7.8% vs previous 12 months
12 months to August 2026 Released 30 Sep 2026 · Next 2 Nov 2026
Calculated by richer.au from ABS data

Housing lending, quarter

ABS
$97.6bn
↓−5.2% vs previous quarter
+6.8% over the year
June quarter 2026 Released 14 Aug 2026 · Next 11 Nov 2026

Owner-occupier lending

ABS
$60.5bn
↓−1.9% vs previous quarter
+6.0% over the year
June quarter 2026 Released 14 Aug 2026 · Next 11 Nov 2026

Investor lending

ABS
$37.1bn
↓−10.2% vs previous quarter
+8.1% over the year
June quarter 2026 Released 14 Aug 2026 · Next 11 Nov 2026

First-home-buyer lending

ABS
$18.4bn
↑+0.2% vs previous quarter
+10.0% over the year
June quarter 2026 Released 14 Aug 2026 · Next 11 Nov 2026
Dwelling approvals each month

Original series (not seasonally adjusted). Stacked: houses and apartments/other.

Dwelling approvals, rolling 12-month total
New housing loan commitments by purpose

Value per quarter, seasonally adjusted, excluding refinancing. First home buyers are a subset of owner-occupiers.

First-home-buyer loans (number per quarter)

Prices, supply and credit by state

Western Australia Northern Territory South Australia Queensland New South Wales Victoria Tasmania Australian Capital Territory

ABS mean price of residential dwellings, June quarter 2026.

Tap or select a state to see its figures.

How to read approvals per 1,000 new residents

This is a richer.au calculation, not an official statistic. It divides dwelling approvals by population growth over the same 12 months (the 12 months to March 2026), so both sides describe the same period. With an average household of about 2.5 people, roughly 400 approvals per 1,000 new residents would be needed just to house population growth, before replacing demolished homes. It does not count existing vacant homes, projects that are approved but never built, or regional differences within a state — so a low reading does not by itself mean a housing shortage, and a high one does not mean an oversupply. It is a prompt for further research, not a buy or sell signal.

Approvals per 1,000 new residents, 12 months to March 2026 (calculated)
  1. SA810
  2. TAS719
  3. ACT693
  4. NSW540
  5. QLD504
  6. VIC495
  7. WA394
  8. NT189

Australia: 508

Investor share of new housing lending, June quarter 2026
  1. NT43.4%
  2. NSW42.0%
  3. TAS39.6%
  4. QLD39.5%
  5. SA39.1%
  6. WA38.1%
  7. VIC33.0%
  8. ACT27.6%

Australia: 38.0%

09State comparison

Sort by any column

Highest and lowest values in each column are marked. They are statistical extremes, not recommendations. Periods differ by column and are shown in each heading.

People, jobs & housing supply
NSW8.67m+1.1%−20,818+84,6004.5%+1.5%53,443540$29.99bn
VIC7.15m+1.6%+82+81,7005.1%+0.9%57,002495$23.42bn
QLD5.74m+1.6%+14,718+55,2004.5%+1.7%47,774504$21.85bn
WA3.10m+2.1%+10,314+41,6004.3%+2.9%26,493394$11.25bn
SA1.92m+1.0%−1,208+17,5004.3%+0.6%15,958810$6.18bn
TAS581k+0.6%−98+3,2005.2%−2.4%2,854719$1.45bn
ACT490k+1.3%−1,401+4,9004.2%+0.8%3,751693$1.98bn
NT269k+1.5%−1,589+3,6004.8%0.0%870189$0.57bn
AUS27.92m+1.4%–+292,1004.6%+1.4%208,145508$97.65bn
Prices, incomes & affordability
NSW$1.30m+1.9%+4.6%$2,108.80+2.8%3.1%$58,90911.9×3.9%3.5%
VIC$918k0.0%+1.0%$2,041.10+4.2%3.1%$57,9078.7×3.5%2.5%
QLD$1.13m+15.4%+12.2%$2,042.20+4.4%3.4%$56,70810.6×4.1%4.7%
WA$1.12m+22.9%+14.0%$2,227.40+3.4%3.3%$62,2079.7×4.3%5.3%
SA$980k+12.9%+12.5%$1,970.20+4.0%3.6%$55,7829.6×4.7%4.1%
TAS$733k+8.8%+5.1%$1,846.30+3.0%2.9%$53,4797.6×4.8%3.1%
ACT$982k+3.0%+2.1%$2,293.30+2.6%3.3%$75,6438.2×4.1%1.4%
NT$614k+14.7%+5.5%$1,984.10+3.0%2.8%$66,8316.0×4.5%6.3%
AUS$1.10m+6.8%+6.2%$2,083.70+3.7%3.2%$58,21610.2×4.0%3.6%

Highest in column   Lowest in column  ·  Approvals per 1,000, five-year price growth and price ÷ earnings are richer.au calculations from ABS data, not official statistics. Inflation and rents are measured in each state's capital city. Approvals per 1,000 population increase is not shown where population fell.

10Financial markets

Daily · select a market for its chart

AUD/USD, AUD/CNY and the 10-year yield are official RBA figures (exchange rates at 4pm AEST; yields as published). A basis point (bp) is 0.01 percentage points. ASX 200, gold, iron ore and oil are delayed exchange prices from Yahoo Finance: iron ore and Brent are front-month futures, and gold is COMEX futures converted to Australian dollars. Market prices are indicative and may lag the live market.

11Data sources & update schedule

Checked 27 October 2026
DataSourceLatest periodReleasedNext releaseFrequency
Estimated resident populationNational, state and territory populationMarch 202617 Sep 202617 Dec 2026Quarterly
Consumer Price Index (monthly)Consumer Price Index, AustraliaAugust 202630 Sep 202628 Oct 2026Monthly
CPI by capital city (monthly)Consumer Price Index, Australia — capital citiesAugust 202630 Sep 202628 Oct 2026Monthly
Labour forceLabour Force, AustraliaSeptember 202615 Oct 202619 Nov 2026Monthly
National accountsAustralian National Accounts: National Income, Expenditure and ProductJune 20262 Sep 20262 Dec 2026Quarterly
Building approvalsBuilding Approvals, AustraliaAugust 202630 Sep 20262 Nov 2026Monthly
Housing lending (new loan commitments)Lending indicatorsJune Quarter 202614 Aug 202611 Nov 2026Quarterly
Average weekly earningsAverage Weekly Earnings, AustraliaMay 202613 Aug 202625 Feb 2027Twice a year (May and November)
Wage Price IndexWage Price Index, AustraliaJune 202619 Aug 202618 Nov 2026Quarterly
Personal income by state (ATO data)Personal Income in Australia (Data by Region)2022-2314 Nov 2025–Annual (income year)
Residential dwelling prices and valuesTotal Value of DwellingsJune Quarter 20268 Sep 20261 Dec 2026Quarterly
Population projections (ABS, 2022 base)Population Projections, Australia, 2022 (base) – 20712022 (base) - 207123 Nov 2023–Irregular (about every 5 years)
Cash rate target decisionsStatistical table A2: Changes in monetary policyChange effective 30 Sep 202629 Sep 2026–As announced
Housing lending ratesStatistical table F6: Housing lending ratesAugust 20268 Oct 2026–Monthly
Australian Government 10-year bond yieldStatistical tables F2 (daily) and F2.1 (monthly): Capital market yields21 October 202623 Oct 2026–Daily
Exchange ratesStatistical table F11.1: Exchange rates (4pm AEST indicative)26 October 202626 Oct 2026–Daily
ASX 200, gold, iron ore, Brent oilYahoo Finance (delayed exchange prices)Latest trading day––Daily

How this dashboard works

  • Figures are pulled automatically from the ABS Data API and RBA statistical tables. Markets are checked hourly; monthly and quarterly releases are checked several times a day and every 30 minutes once a scheduled release date arrives.
  • Every update is checked before it goes live: required series must be present, values must sit in a plausible range, and the latest period can never move backwards. If a check fails, the previous verified figure stays on the page and the failure is logged for review — an unverified number is never shown.
  • Every figure carries its own reference period. Population, GDP, wages (WPI), lending and dwelling prices are quarterly; CPI, jobs and approvals are monthly; average weekly earnings is twice-yearly; personal income by state is annual with a lag of about two and a half years. Periods differ across the page by design.
  • The scenario panels compare each figure with a published reference point — the 2–3% inflation target and its 2.5% midpoint, the RBA's approximate full-employment estimate, the wage growth it has described as consistent with the target, and commonly cited trend growth — and the commentary is assembled from those comparisons by fixed rules. It is regenerated whenever the data changes and is never edited by hand.
  • Growth rates use real (inflation-adjusted), seasonally adjusted series where the ABS publishes them. Building approvals by state are only published in original terms, so they are compared over 12-month totals.
  • Calculated indicators (annual growth from levels, 12-month totals, approvals per 1,000 people, GDP per person over four quarters, gold in A$) are labelled as richer.au calculations.

Better data first, better decisions second. Invest Smarter. Live Richer.

About these figures: compiled by richer.au from Australian Bureau of Statistics, Reserve Bank of Australia and APRA data and delayed market prices. Official statistics are revised over time. This page is general information only and is not financial advice or a recommendation to buy or sell any investment.