Economy, jobs and prices in Victoria, Australia: official figures
The economy of Victoria produced gross state product of $637,435 million in 2024-25 at current prices, 22.9% of Australian gross domestic product ($2,778,897 million), 2nd largest of 8 among states and territories.
What is the GDP per capita of Victoria?
Gross state product per person in Victoria was $90,918 in 2024-25 at current prices, against $101,438 for Australia (3rd lowest of 8 states and territories).
Source: Australian Bureau of Statistics · saved copyHow fast is the economy of Victoria growing?
The economy of Victoria grew by 1.1% in real terms (chain volume measures) in 2024-25, compared with 1.4% for Australia (4th fastest of 8 growth).
Source: Australian Bureau of Statistics · saved copyWhat is the unemployment rate in Victoria?
The trend unemployment rate in Victoria was 5.0% in September 2026, compared with 4.6% for Australia (2nd highest of 8 states and territories). A year earlier it was 4.7%.
Source: Australian Bureau of Statistics · saved copyWhat is the labour force participation rate in Victoria?
The labour force participation rate in Victoria was 67.3% in September 2026 (trend), against 66.5% nationally (4th highest of 8 states and territories).
Source: Australian Bureau of Statistics · saved copyHow many people have jobs in Victoria?
There were about 3,816 thousand employed people in Victoria in September 2026 (trend), and 63.9% of the population aged 15 and over was in work, against 63.4% for Australia (4th highest of 8 states and territories).
Source: Australian Bureau of Statistics · saved copyWhat is the average salary in Victoria?
The median employee income in Victoria was $61,397 in 2022-23 (the mean was $73,591), 4th lowest of 8 states and territories. Source: Australian Taxation Office data published by the ABS.
Source: Australian Bureau of Statistics · saved copyWhat is the median house price in Victoria?
The median price of an established house sold in Victoria in 2024 was $753,800 and of an attached dwelling (unit or townhouse) $605,000; houses were 3rd most of 8 expensive of the eight states and territories.
Source: Australian Bureau of Statistics · saved copyHow many businesses are there in Victoria?
Victoria had 754,400 actively trading businesses at 30 June 2025, or 107 per 1,000 residents.
Source: Australian Bureau of Statistics · saved copyHow many new homes are being approved in Victoria?
Building approvals in Victoria covered 56,531 dwelling units in the year to June 2025, or 8.0 per 1,000 residents (the highest of 8 states and territories).
Source: Australian Bureau of Statistics · saved copyWhat is the median household income in Victoria?
The median weekly household income after adjusting for household size (equivalised) in Victoria was $1,074 at the 2021 Census, and median rent was $370 a week and median mortgage repayment $1,859 a month.
Source: Australian Bureau of Statistics · saved copyHow many jobs are there in Victoria?
There were 5,459,569 employee jobs in Victoria in the year to June 2023 (ABS Linked Employer-Employee Data), 2nd most of 8.
Source: Australian Bureau of Statistics · saved copyHow Victoria compares with other states
Unemployment rate, trend, September 2026 (2026-09)
Victoria ranks 2 of 8, highest first.
| Rank | Region | Unemployment rate, trend, September 2026 |
|---|---|---|
| 1 | Tasmania | 5.1% |
| 2 | Victoria | 5.0% |
| 3 | Australian Capital Territory | 4.7% |
| 4 | New South Wales | 4.7% |
| 5 | Queensland | 4.4% |
| 6 | Northern Territory | 4.3% |
| 7 | Western Australia | 4.2% |
Gross state product per person, 2024-25 (current prices) (2024-25)
Victoria ranks 6 of 8, highest first.
| Rank | Region | Gross state product per person, 2024-25 (current prices) |
|---|---|---|
| 2 | Northern Territory | $131,983 |
| 3 | Australian Capital Territory | $123,409 |
| 4 | New South Wales | $100,105 |
| 5 | Queensland | $94,506 |
| 6 | Victoria | $90,918 |
| 7 | South Australia | $83,465 |
| 8 | Tasmania | $76,908 |
Real growth in gross state product, 2024-25 (2024-25)
Victoria ranks 4 of 8, highest first.
| Rank | Region | Real growth in gross state product, 2024-25 |
|---|---|---|
| 1 | Australian Capital Territory | 3.5% |
| 2 | Queensland | 2.2% |
| 3 | Western Australia | 1.3% |
| 4 | Victoria | 1.1% |
| 5 | South Australia | 1.0% |
| 6 | Tasmania | 1.0% |
| 7 | Northern Territory | 1.0% |
Median employee income, 2022-23 (2023)
Victoria ranks 5 of 8, highest first.
| Rank | Region | Median employee income, 2022-23 |
|---|---|---|
| 2 | Northern Territory | $68,042 |
| 3 | Western Australia | $65,310 |
| 4 | New South Wales | $63,301 |
| 5 | Victoria | $61,397 |
| 6 | Queensland | $59,751 |
| 7 | South Australia | $58,380 |
| 8 | Tasmania | $56,350 |
Median price of an established house, 2024 (2024)
Victoria ranks 3 of 8, highest first.
| Rank | Region | Median price of an established house, 2024 |
|---|---|---|
| 1 | New South Wales | $1,000,000 |
| 2 | Australian Capital Territory | $990,000 |
| 3 | Victoria | $753,800 |
| 4 | Queensland | $730,000 |
| 5 | South Australia | $680,000 |
| 6 | Western Australia | $645,000 |
| 7 | Tasmania | $598,000 |
More on Victoria: overview · health · education and schools · poverty and living standards · government budget · Australia
Sources
- Australian Bureau of Statistics: Census of Population and Housing 2021, state and territory results (via ABS Data by region): health conditions, education, housing costs, homelessness, disadvantage, read 23 October 2026 · saved copy (SHA-256 7f6d87de31d5…)
- Australian Bureau of Statistics: Australian National Accounts: State Accounts, 2024-25, Table 1: Gross state product, read 23 October 2026 · saved copy (SHA-256 193fa6f8752b…)
- Australian Bureau of Statistics: Labour Force, Australia, September 2026: trend and seasonally adjusted state and territory series, read 23 October 2026 · saved copy (SHA-256 72befbbd1b24…)
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