Australian home values up 0.6% in June

Every capital city and rest-of-state region recorded a monthly increase except for Hobart (-0.2%). Over the quarter, Regional Tasmania (-0.4%) was the only capital city or rest-of-state region that did not record a rise in values.

Quarterly growth was led by Darwin (+4.9%), with a 1.5% rise in June taking dwelling values to a new record high that surpasses the mining boom peak recorded in May 2014. The quarterly trend was also led by Perth (+2.1%) and Brisbane (+2%)

The national median house price as at 30 June 2025 was $837,586, with Sydney featuring the highest median of $1.21 million followed by Brisbane at $926,243.

Housing turnover in the first half of 2025 is estimated to be at an annualised pace of 4.9%, slightly below the decade-average turnover of 4.9%, according to Cotality.

Meanwhile, advertised stock in the first half of 2025 is down -5.8% year-on-year and -16.7% compared to the previous five-year average.

What they said: Cotality research director Tim Lawless said falling interest rates have been a catalyst for renewed house price momentum.

“The first rate cut in February was a clear turning point for housing value trends. An additional cut in May, and growing certainty of more cuts later in the year have further fuelled positive housing sentiment, pushing values higher,” Lawless said.

“Although value rises have been broad-based, the pace of growth remains mild compared to mid-2023 when the quarterly rate of growth in national home values peaked at 3.3%, and for that matter, positively tepid relative to the extreme 8.1% quarterly peak growth recorded through the height of the pandemic.”