Australia’s housing market continues to trend upward, with home prices rising 3.91% over the past 12 months, according to the latest PropTrack data.
While regional markets like WA and SA have led annual growth, the key story is renewed momentum in capital cities, particularly in Melbourne, where median house prices edged up 0.1% in March, easing the city’s yearly decline to just -2.4%.
Smaller capitals continue to perform strongly, with Adelaide, Perth, and Brisbane posting double-digit house price growth. Meanwhile, the unit market has risen 4.5% nationally, as buyers seek more affordable options.
PropTrack’s Eleanor Creagh credits the recent rate cut with lifting buyer confidence and borrowing power—fueling a return to positive market sentiment and record price levels in both capital cities and regional areas.
