Welcome to the Property Planner’s Monthly Market Update, your comprehensive resource for the latest insights and trends in the real estate and economic landscape!
Stay informed and ahead of the curve with our expert analysis, helping you make well-informed decisions in the ever-evolving property market.
Darwin’s Exceptional Growth
Darwin is leading the charge with 3.4% growth this quarter, outperforming all other capital cities by a large margin according to CoreLogic (now Cotality).
If this pace continues, it will equate to 15.6% annual growth.
At propertyplanning.com.au, we now see potential for up to 20% annual growth over a 12-month period as we recalibrate our outlook for Australia’s smallest capital city.
Darwin is flashing all the right signals:
- #1 in sales volume growth, up 35.3%
- Second lowest vacancy rates sitting at 0.7%
- Highest average rental yield among the capitals of 6.6%
- Biggest drop in new listings of all cities, down 27.3% compared to this time last year.
- Most affordable capital city, with a median of $526,410
Click here for more insights on Darwin.
Source: CoreLogic
Sydney and Melbourne’s Recovery
Sydney and Melbourne are showing steady signs of improvement, with both markets posting modest quarterly growth.
In Sydney, it’s the top quartile of properties that are leading the recovery in values.
This has historically been one of the earliest signs of a broader market upswing.
Melbourne is just behind Darwin on several key indicators, suggesting it could be the next capital city to lift off.
Especially as Melbourne remains 5.4% below its market high of March 2022.
Click here for more detailed insights into the data behind Melbourne’s market recovery.
Source: CoreLogic
Perth’s Pace Eases
After an explosive 19.1% growth in 2024 and 15.2% in 2023, Perth’s annual growth rate has now eased to 10% over the last 12 months and is falling rapidly.
Over the April quarter (spanning February to April), growth has softened further to just 1%, which translates to an annualised pace of around 4% for 2025.
This slowdown strongly suggests that Perth is in the later stages of a maturing market.
Multiple rate reductions may change this equation in 2025 and into 2026.
Source: CoreLogic
Brisbane’s High-End Housing Market Slows
Despite Brisbane’s long hot streak, growth in the 75th percentile, the most expensive properties for sale, has flattened.
This suggests high-end buyers may be reaching their limit and fewer interstate buyers are seeing value at the top end.
Still, affordable houses and units are still drawing strong interest, keeping the lower 25% quartile of properties buoyant.
Source: CoreLogic
Hobart’s Quiet Rebound?
Rental growth in Hobart is back up to 5.4%, outperforming last year’s pace and pointing to a tightening rental market.
The vacancy rate is the lowest in the nation, at only 0.6%.
Hobart recorded the second highest growth in home values in April, rising by 0.9%.
With attractive entry price points and limited new supply, investor interest may re-emerge, with Hobart still sitting 12.6% below its peak in March 2022.
But as always with Hobart, its small population size makes the month-to-month data quite volatile, so keep an eye on the trendline, not just the headlines.
Source: SQM Research
Regional SA, WA, and QLD Still Going Strong … But is This a Lag Effect?
While the capital cities in these states have slowed markedly, their regional counterparts are still seeing solid price growth.
Buyers chasing value are continuing to push into these regional areas, creating a lag effect as the last of the momentum from the capital cities flows outward.
There may also be a case of data lag at play, with many sales prices only appearing in the stats after settlement, meaning today’s numbers could be reflecting yesterday’s market.
Source: CoreLogic
Consumer Sentiment is on the Rise
The ‘Time to Buy a Dwelling’ index climbed 5.1% to a read of 90, signaling growing confidence.
Watch for this metric to move back above 100 as interest rates continue to fall.
We expect prices to continue to rise across all the capital cities.
Especially those sitting under their historical highs such as Darwin, Melbourne, Sydney, Hobart and Canberra.
Source: Westpac-Melbourne Institute
Listings Down Nationwide in April
New property listings were down 11.6% in April due to an unusual confluence of events, thanks to the anomaly of Easter, Anzac Day and Aussies taking to the polls, all within a three-week window.
What a great month April was for those of us who like to enjoy a long weekend!
Source: CoreLogic
Sales Volumes Up
Sales volumes are up across several capital cities as demand lifts in Darwin, Melbourne, Canberra and Adelaide.
Source: CoreLogic
What’s Ahead for 2025?
With rate cuts on the horizon and the federal election now behind us, cities that have had flatter price growth since COVID, such as Darwin, Melbourne, Sydney, Canberra and Hobart, are likely to attract renewed interest as they remain below their previous market peaks.
Source: CoreLogic
Interested to Learn More?
Listen to the Property Trio podcast for more market insights and expert analysis that you can’t afford to miss!
Reach Out to Us
If you would like to discuss your next steps, property plans, and mortgage strategy, get in touch with us today. Our team of experts is here to guide you through the complexities of the market and help you achieve your property goals.
