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Australia’s housing market reached a new peak in July, with national home prices rising 0.3% month-on-month and 4.9% higher year-on-year, according to the latest PropTrack Home Price Index.
The median national home price now sits at $827,000, with houses averaging $915,000 and units at $678,000.
Adelaide led the capital cities in both monthly (+0.9%) and annual (+9.4%) growth, with Hobart (+0.5%), Brisbane (+0.4%) and Perth (+0.4%) also recording notable increases. Sydney, Melbourne, and Darwin saw modest monthly gains between 0.1% and 0.2%.
Canberra was the only capital to record a price drop (-0.1%) and remained the sole city with an annual decline (-0.1%).
Regional areas outpaced the capitals in yearly growth, with prices up 0.4% in July and 6.5% over the year. Regional South Australia led the charge, with annual growth of 12.9%, followed by regional Queensland (8.3%) and regional Western Australia (8.0%).
Anne Flaherty, PropTrack’s senior economist, said while July marked the smallest monthly increase this year, demand remained resilient despite the Reserve Bank holding rates steady.
“Auction clearance rates are the highest they’ve been in more than two years,” she sai. “We expect home prices to keep climbing, with further interest rate cuts anticipated to drive continued growth.”
The PropTrack report also highlighted tight supply, with fewer homes listed during winter, but buyer demand remains elevated.
With interest rates on hold and the potential for rate cuts later in the year, PropTrack expects home prices to keep rising. “Conditions remain favourable for further growth through the second half of 2025,” Flaherty added.
For full data and regional breakdowns, refer to the PropTrack Home Price Index July 2025.
Are you taking advantage of the market while rates are still on hold? Let us know in the comments.
