Call Us +961 7669 1784

Price Growth Recorded in Every Capital City

Price Growth Recorded in Every Capital City-1

Price Growth Recorded in Every Capital City-2

Australia’s housing market continues to grow, with every capital city recording a spike in values for April.

According to data from Cotality, formerly CoreLogic, combined dwelling values rose by 0.3% in April, adding roughly $2,720 of value to the average dwelling.

Price rises were generally modest, with Sydney and Melbourne both rising by 0.2% and Perth and Brisbane increasing by 0.4%. Adelaide was up 0.3% in April. The biggest rises were recorded in Hobart and Darwin, with prices rising 0.9% and 1.1% respectively.

Despite the rises, not all capital cities are at record levels. As Cotality noted, Sydney values remain -1.1% below their September 2024 high, while Melbourne is down -5.4% from its 2022 peak. Similarly, Canberra is down -6.4%, while Hobart is down -11.1% overall.

Cotality’s research director, Tim Lawless, said the rate cut in February had helped boost the housing market, but the positive influence from lower rates “seems to be losing some potency”.

“At the same time, household confidence slipped in April, with the US’s Liberation Day tariff announcements and the upcoming federal election causing uncertainty,” said Lawless.

“With further rate cuts likely as soon as May 20 (when the RBA meets), and a level of certainty returning to the market after the federal election…we expect a further modest rise in values for 2025.”

April 17: Median House Prices Hit the Million Mark in Five Cities
Adelaide has become the latest capital city to reach a median house price of $1 million, joining Sydney, Brisbane, Melbourne and Canberra in the expensive property club, according to Domain research.

In a reflection of the housing crisis facing Australians, Domain research has revealed that home buyers will now need an average of $1 million across five capital cities, with only Perth, Darwin and Hobart costing less than one million dollars. Sydney’s median house price is only $8,000 shy of $1.7 million for the March 2025 quarter, while Perth is expected to join the million-dollar mark by the end of the year with a median house price of $917, 760. It is considerably cheaper to buy in Hobart with a median of $710,077, while Darwin remains the cheapest city for housing with a median of $659, 172.

Domain’s median prices refer only to houses and do not include units, which are usually cheaper.

Despite the property growth, Domain’s chief of research and economics, Dr Nicola Powell, said the pace of growth was one-third of 2024 levels.

“Several factors are behind the slowdown—interest rate cuts are expected to be gradual, affordability remains a major barrier, and lending conditions are still tight,” she said.

“On top of that, global uncertainty, including from the Trump administration’s economic and foreign policy stance, could influence the RBA’s next moves.”