Australian Property Market – Prices, Trends, Forecast [August 2025]

Key Takeaways for Homeowners:

• Perth leads the nation in home value growth, driven by strong demand and limited supply.
• Property values are rising across all price points, from entry-level to premium homes.
• Affordable areas are booming, showing particularly strong growth momentum.
• More suburbs are now in price upswing, signaling a broad-based market recovery.

For insights on how your local market is performing and your property’s value start here. 

Property Price Growth By City

View the latest property value movements across Australia’s capital cities. Use the filters to explore monthly, quarterly, and annual changes by dwelling type and region. Data sourced from CoreLogic.

All Dwellings Houses Units Show Regional

Month

Quarter

Annual

Total Return

Median Value

Month Quarter Annual Total Return Median Value

CoreLogic Home Value Index, Released on 1st August 2025

Sydney

• Market Performance: Sydney continued its recovery in July 2025 with dwelling values rising 0.6% for the month, aligning with the national average. This brought quarterly growth to 1.8%, and the annual growth rate to 4.0%. The city has now recouped losses from earlier downturns and is officially back above its previous price peak. Sydney’s median dwelling value stands at $1,228,435, the highest of all capital cities. The performance reflects a resilient market bolstered by low inventory levels and steady buyer demand despite affordability pressures and high interest rates.
• Key Insight: Sydney’s housing market continues its recovery with moderate and consistent value growth supported by low supply and resilient demand. While yields remain low and affordability is stretched, strong subregional performances and stable price increases paint an encouraging picture. Provided interest rates ease as anticipated, Sydney is likely to experience modest but steady growth in the months ahead.

Read More: Latest Property Market Update for Sydney

Melbourne

• Market Performance: Melbourne continues to navigate a measured property recovery phase, marked by gentle price movements and steady buyer interest. The city’s housing market has shown modest but consistent growth, helped by improving consumer sentiment, a more stable interest rate outlook, and constrained supply. With a current median dwelling value of $840,404, Melbourne remains one of the more affordable capital cities relative to Sydney, yet still one of the most valuable markets nationwide.
• Key Insight: Melbourne’s property market is staging a cautious recovery. Dwelling values are rising gradually, with select submarkets showing stronger momentum. Rent growth remains limited, and yields are moderate. As economic conditions ease, particularly around interest rates, Melbourne is likely to continue on a path of slow and steady recovery rather than dramatic gains. The fundamentals are stable, but the pace of growth will likely remain conservative relative to other major cities in the near term.

Read More: Latest Property Market Update for Melbourne

Brisbane

• Market Performance: Brisbane remains one of Australia’s strongest-performing capital city housing markets in 2025. The city continues to attract buyers with a mix of affordability, lifestyle appeal, and tight housing supply. As of July, its housing momentum is outpacing many southern capitals, bolstered by consistent demand and comparatively accessible price points. Brisbane’s current median dwelling value is $834,000, still significantly below Sydney’s, yet it leads most other cities in both short-term and long-term growth.
• Key Insight: Brisbane stands out as a consistently strong market in 2025. Its performance across price growth, rental conditions, and long-term appreciation reflects a city benefiting from structural tailwinds. With momentum building and fundamentals in place, Brisbane’s housing market is expected to continue delivering solid value growth and investor appeal for the rest of the year.

Read More: Latest Property Market Update for Brisbane

Adelaide

• Market Performance: Adelaide continues its steady performance in 2025, standing out among the smaller capitals with a stable trajectory of growth. Its housing market benefits from relatively affordable prices, strong demand fundamentals, and limited stock. The median dwelling value in Adelaide reached $723,655 in July, supported by consistent annual and quarterly gains.
• Key Insight: Adelaide’s property market is proving to be a reliable performer in 2025. With a strong mix of affordability, rental yields, and consistent capital growth, it stands out as a balanced market in both the short and long term. While not the fastest-growing city, its steadiness and low volatility make it a compelling option for both investors and homebuyers seeking resilience in a changing economic environment.

Read More: Latest Property Market Update for Adelaide

Perth

• Market Performance: Perth continues to outperform its capital city peers, cementing its place as Australia’s fastest-growing housing market in 2025. Affordability, strong population growth, and limited housing supply are key drivers fueling this performance. With a median dwelling value of $736,264, Perth remains accessible compared to eastern capitals, attracting both owner-occupiers and investors.
• Key Insight: Perth stands out as Australia’s leading growth market in 2025, driven by robust fundamentals and persistent supply constraints. Its combination of affordability, double-digit annual value growth, and high rental yields makes it a compelling proposition for buyers and investors alike. While national markets rise more modestly, Perth remains in a class of its own—well-positioned for continued expansion through year-end.

Read More: Latest Property Market Update for Perth

Canberra

• Market Performance: Canberra’s property market is showing modest growth through 2025, reflecting a stabilising trend after previous corrections. While not a standout performer, the city is maintaining a gentle recovery in values and a relatively balanced rental market. With a median dwelling value of $901,271, Canberra remains one of Australia’s more expensive capitals, sitting just below Sydney.
• Key Insight: Canberra’s property market is in a slow recovery phase, characterised by stable prices, mild rent growth, and moderate yields. While it’s not a top performer in 2025, its long-term fundamentals remain sound. For investors and homebuyers seeking predictability and relative market balance, Canberra presents a steady, if subdued, opportunity.

Read More: Latest Property Market Update for Canberra

Hobart

• Market Performance: Hobart’s housing market continues to stabilise in 2025, following the broader national trend of modest gains. While not leading in growth, the city has halted its previous declines and returned to positive monthly movement. With a current median dwelling value of $693,371, Hobart remains one of the more affordable capital cities, though its values have come off their peak significantly.
• Key Insight: Hobart is quietly regaining ground after a period of decline. Though still below peak levels, the market is showing signs of recovery, bolstered by resilient rental demand and improving yields. While not leading the national rebound, Hobart offers a balanced market for buyers and investors looking for stable, mid-term returns rather than rapid capital growth.

Read More: Latest Property Market Update for Hobart

Darwin

• Market Performance: Darwin’s housing market continues its slow and steady journey through 2025. It remains one of the more volatile yet affordable capital city markets, with a median dwelling value of $501,821, the lowest among all capitals. While price growth has moderated compared to the highs seen during pandemic-driven spikes, Darwin is showing signs of stability, particularly in its rental market.
• Key Insight: Darwin presents a mixed but improving picture. While it lacks the price momentum of larger capitals like Perth or Brisbane, its extremely high rental yields and affordable price base offer a compelling case for investors. Its modest recovery is gaining traction, but future growth will depend heavily on demographic shifts and broader economic support.

Read More: Latest Property Market Update for Darwin

Australian Property Market Trends

This table highlights how dwelling values have changed across Australia over the past 5 and 10 years, showing which markets are still climbing and which ones have pulled back from their peak. It’s a helpful snapshot for understanding long-term growth and current momentum especially for identifying markets that are peaking and slowing.

Geography	From peak	Peak date	Past 5 years	Past 10 years
Sydney	<at peak>	<at peak>	35.5%	55.2%
Melbourne	-3.4%	Mar 22	15.6%	39.8%
Brisbane	<at peak>	<at peak>	76.3%	93.8%
Adelaide	<at peak>	<at peak>	75.6%	95.1%
Perth	<at peak>	<at peak>	82.0%	63.5%
Hobart	-10.4%	Mar 22	29.7%	85.9%
Darwin	<at peak>	<at peak>	36.1%	6.5%
Canberra	-5.2%	May 22	31.0%	63.1%
Regional NSW	<at peak>	<at peak>	52.2%	96.4%
Regional Vic	-5.3%	May 22	35.6%	74.5%
Regional Qld	<at peak>	<at peak>	76.6%	96.2%
Regional SA	<at peak>	<at peak>	79.9%	78.0%
Regional WA	<at peak>	<at peak>	89.1%	62.0%
Regional Tas	-1.9%	May 22	48.5%	95.0%
Regional NT	-7.8%	Apr 16	7.2%	-1.9%
Combined capitals	<at peak>	<at peak>	40.9%	58.9%
Combined regionals	<at peak>	<at peak>	60.5%	89.8%
National	<at peak>	<at peak>	45.2%	65.4%

Australian Property Market Forecast

The Australian banks forecast:

• ANZ predicts a 5-6% increase in capital city property prices in 2024, with Brisbane expected to see the highest rise at 9-10%, Perth property values could go up by 1-11%, Sydney by 4-5%, and Melbourne prices by 2-3%.
• CBA forecasts a 5% rise in capital city prices, with some variations: Brisbane is anticipated to grow by 6%, Melbourne and Perth by 5%, Sydney by 4%, and Adelaide by 1%.
• NAB projects a 5.4% average increase across the capitals, with Brisbane expected to see a 6.5% rise, Perth and Adelaide by 6.2%, Melbourne by 5.5%, Sydney by 5%, and Hobart remaining flat.
• Westpac expects a 6% growth across the combined capitals, with Perth leading at 10%, followed by Brisbane at 8%, Sydney at 6%, Adelaide at 4%, and Melbourne at 3%

Oxford Economics has also released a three year property price forecast.

City	Median Price* (Houses)	Median Price*(Units)	Total Price** (%) Growth (Houses)	Total Price ** (%) Growth (Units)
Sydney	$1.93M	$1.09M	18%	22%
Melbourne	$1.28M	$0.78M	21%	20%
Brisbane	$1.21M	$0.71M	19%	23%
Adelaide	$0.95M	$0.69M	16%	18%
Perth	$1.05M	$0.64M	30%	30%
Canberra	$1.17M	$0.75M	19%	20%
Hobart	$0.86M	$0.71M	13%	16%
Darwin	$0.70M	$0.46M	24%	26%
Combined Capitals	$1.34M	$0.87M	20%	21%

For the second half of 2024 this means:

• Modest value increases expected: The national housing market is likely to see modest value increases through the end of 2024, driven by a persistent imbalance between supply and demand.
• Affordability constraints: Affordability pressures, high interest rates, and cost-of-living challenges are expected to temper growth, especially in higher-priced markets.
• Sustainability of growth: High growth levels in cities like Perth, Adelaide, and Brisbane may be difficult to sustain as affordability becomes more stretched.
• Shift to affordable segments: Demand is increasingly focused on more affordable market segments, with significant growth in the lower quartile of the market.
• Construction Sector Constraints: Ongoing issues in the construction sector, including labor shortages and competition from public infrastructure projects, are likely to keep supply constrained, supporting property values in the longer term.

Australian Property Clock Update

Each month, independent property valuation firm Herron Todd White (HTW) publishes a residential property report that assesses the performance of Australia’s 50 largest markets. HTW’s Property Clock grades each market based on current and predicted performance to determine whether it’s rising, falling, peaking or bottoming out. 

Australian Property Clock: Houses

Australian Property Clock: Units

Conclusion

Australia’s housing market continues its strong upward trend, with property values now at record highs in most regions. While interest rates remain a key pressure point, limited supply and persistent demand are sustaining growth—especially in Perth, Adelaide, and parts of regional Queensland and Western Australia.

Perth remains the standout performer, with consistent month-on-month gains across a broad range of suburbs and price points. Entry-level markets are particularly active, reflecting affordability-driven demand. At the same time, premium suburbs in cities like Sydney are showing renewed resilience, suggesting confidence is returning at the top end.

Regional markets also continue to outperform many expectations, with strong 5- and 10-year growth in places like Regional WA, QLD, and SA. While a few pockets—such as Melbourne, Hobart, and Regional NT—remain below their price peaks, the broader trajectory is clearly upward.

For homeowners, this signals an environment of widespread value uplift and growing equity potential, particularly for those in high-growth zones. As always, local dynamics vary, but the national housing story for now is one of strength, stability, and opportunity.

1. Get your free property report for a property value estimate and local market conditions.
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