Cotality’s latest Housing Chart Pack shows that 44.8% of the 3,722 suburbs analysed were sitting at a record high in value at the end of June – a number expected to rise above 50% in coming months as prices continue to climb.
Brisbane and Regional Queensland lead the national recovery, with 78.8% and 77.7% of suburbs at their peak respectively. Perth followed closely with 74.8%, while Adelaide (61.4%), Regional SA (58.8%) and Regional WA (53.6%) also posted strong figures.
Although less than half of all suburbs are at peak, momentum is building: 329 suburbs were within 0.5% of their previous high, and 290 of those posted quarterly gains. National dwelling values rose 0.6% in June, contributing to the upward trend.
“While national indices provide a macro view, suburb-level data shows how widespread this growth phase really is,” said Cotality economist Kaytlin Ezzy (pictured).
“The fact that so many suburbs are either at or just shy of their peak shows not only the diverse recovery in markets like Sydney and Melbourne, but also the continued resilience of recent hotspots including Brisbane, Perth and Regional Australia.”
The gains come as property prices continue rising nationally, even in the absence of a July interest rate cut. The Reserve Bank held the cash rate steady at 3.85%, but economists at both CBA and ANZ expect two more cuts later this year – in August and November – which could fuel further price growth. Despite the pause, factors like a housing shortage, rising investor activity, and strong buyer demand are keeping upward pressure on values.
The recovery isn’t evenly spread. While Sydney, Perth, Adelaide and now Darwin have returned to peak levels, others like Melbourne, Canberra and Hobart are lagging.
“Across Melbourne, only 12.9% of suburbs saw record highs in June. In Canberra, only eight markets were at peak, while just one suburb (Brighton) recorded new highs in Hobart,” Ezzy said.
“Despite home values trending higher though much of 2025, values across these broader regions remain -3.9%, -5.3% and -10.2% below their respective 2022 peaks.
“While this might be received as bad news for homeowners, prospective buyers in these markets are in the position to access housing at prices lower than they were three years ago.”
A standout recovery came from Darwin, where dwelling values hit a new record high for the first time in over a decade, following a 26.7% price fall between 2014 and 2020.
“Market dynamics across Darwin’s housing market have undergone a remarkable transformation,” Ezzy said.
“After years of subdued conditions following the end of the mining infrastructure boom, we’re now seeing demand and supply rebalancing in a way that supports further value growth.
“Investor activity has surged 98.2% year-on-year, while advertised supply remains tight and sales volumes have jumped 44%, all contributing to a renewed upswing in values. Although unit values across the city remain below their previous highs, the broader dwelling market has firmly turned a corner.”
