Despite a tougher run of market conditions through 2026, new data from realestate.com.au shows property prices are still higher than a year ago across most of the country, with regional and outer-metro suburbs leading the gains.
House prices rose in 85% of Australian suburbs over the 12 months to June, while unit prices increased in 90% of suburbs. Of the suburbs that did record a fall, roughly half saw declines of less than 3%.
The strongest house price growth nationally came from regional Tasmania and Queensland. Ravenswood, Tasmania, led the country with a 41% annual gain, taking its median AVM to $511,000, followed by Home Hill in Queensland, up 40% to $404,000, and Waverley, Tasmania, up 39% to $514,000. For units, Hillcrest and Beenleigh in Queensland, alongside Orelia in Western Australia, each recorded gains of 42%, with median values ranging from $492,000 to $810,000.
REA Group senior economic analyst Megan Lieu (pictured) said the pattern reflects affordability pressure pushing buyers toward cheaper markets.
"Regional growth has been stronger in recent months as interest rates have put a strain on housing affordability," Lieu said. "Homes in regional areas tend to be affordable relative to capital cities which has been one of the main drawcards for buyers. This has been an ongoing trend with net internal migration into regional areas continuing to be positive."
In the March quarter, city-to-region moves outnumbered the reverse flow by 29.7%, with regional rental yields also running well ahead of the capitals.
Buyer demand, measured by enquiries per listing, was highest in Rocklea in Brisbane, and Crows Nest and West Tamworth in NSW, for houses, while Concord West, Fairfield Heights, and Bonnyrigg in Sydney topped the list for units.
Properties are also moving quickly in several markets. Houses in Gray and Wanguri in Darwin, Woodvale in Perth, and Skye in Melbourne's Mornington Peninsula sold in 10 median days or less. Units in Summerhill, Tasmania, and Toorak Gardens, South Australia, also turned over in 10 to 13 median days.
Despite this pocket of strong demand, Lieu said the broader slowdown in market momentum could still work in buyers' favour in the coming months.
"...I can say that the slowdown in market momentum might give buyers more negotiating power in the upcoming months compared to upswing periods," she said.
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