Australia’s median property price rose 1.1% during the three months to April, to reach a new peak of $825,349, according to Cotality.
All capital cities saw growth during the quarter, ranging from a 0.6% rise in Canberra to 3.4% in Darwin. The broad increase signals steady demand despite ongoing affordability challenges. Experts attribute the rise to a combination of low housing supply, strong migration, and continued interest from both investors and owner-occupiers.
Cotality’s analysis also revealed:
- Regional property prices rose faster than metro prices during the April quarter (1.5% vs 1.0%)
- House prices rose faster than unit prices (1.2% vs 0.7%)
- Three capital cities recorded record-high median prices (Brisbane, Perth, Adelaide)
Property prices have recorded strong growth in recent decades, despite occasional downturns. So, although prices are elevated in many parts of the country, they might get even higher in the years ahead. This ongoing trend has been driven by factors like population growth, limited housing supply, and sustained buyer demand.
Thinking of buying, refinancing, or investing? With the median property price to reach new peak, now might be the right time to explore your options. Contact Us today to find the right loan for your goals and take the next step with confidence.