The Australian Bureau of Statistics said the value of dwellings rose $221.2 billion in the March quarter, lifting the total value to $10.2 trillion.

ABS head of prices statistics Michelle Marquardt said the value of homes had risen $1.8 trillion in the past year.

NSW accounts for 40.1 per cent, or $4.1 trillion, of Australia's total value of dwellings, followed by Victoria with 26.9 per cent ($2.7 trillion) and Queensland with 16.7 per cent ($1.7 trillion).

The mean price of residential dwellings in Australia was $941,900, up from $925,300 in the December quarter 2021.

"Over the past year, growth in median prices in regional NSW and Victoria has outpaced growth in their capital cities for both houses and attached dwellings," Ms Marquardt said.

MEDIAN HOUSE PRICES AND ANNUAL PERCENTAGE RISE

Capital city

Sydney - 16.4 per cent - $1,245,000

Melbourne - 9.4 per cent - $930,000

Brisbane - 29.3 per cent - $787,500

Adelaide - 23.8 per cent - $650,000

Perth - 1.9 per cent - $550,000

Hobart - 23.4 per cent - $753,000

Darwin - 12.1 per cent - $600,000

Canberra - 28.3 per cent - $1,065,000

Regional

NSW - 29.1 per cent - $800,300

Victoria - 17.4 per cent - $640,000

Queensland - 12.8 per cent - $530,000

SA - 18.7 per cent - $362,000

WA - 4.9 per cent - $425,000

Tasmania - 30 per cent - $520,000

NT - 2.4 per cent - $461,000

(Source - Australian Bureau of Statistics, March quarter)

Australian Associated Press