National housing values rose 0.8% in September, marking the strongest monthly gain since October 2023. The September quarter delivered a 2.2% increase, double the March quarter's 1.1% rise. Annual growth reached 4.8%, driven by robust capital city performance where values rose 0.9% in September. Record-low listing levels continue to fuel price growth, with advertised stock 18% below the five-year average while sales activity tracks 7.3% above average.
| Capital City | 3-Month Growth | Annual Growth | Rental Growth (Annual) | Gross Yield | Market Status | Key Characteristics |
|---|---|---|---|---|---|---|
| Sydney | +2.1% | +3.0% | +4.4% | 3.0% | Record High | Accelerating quarterly momentum, premium resilience |
| Melbourne | +1.0% | +1.9% | +1.8% | 3.7% | 2.7% below peak | Continued recovery, improving conditions |
| Brisbane | +3.5% | +8.8% | +6.4% | 3.6% | Record High | Strong unit market, severe supply shortage |
| Adelaide | +2.5% | +6.2% | +4.1% | 3.6% | Record High | Sustained growth, affordability advantage diminishing |
| Perth | +4.0% | +7.5% | +7.0% | 4.2% | Record High | Leading growth, listings 45% below average |
| Hobart | +0.1% | +2.7% | +6.9% | 4.4% | 9.5% below peak | Minimal growth, rental strength continues |
| Darwin | +5.9% | +12.9% | +8.9% | 6.5% | Record High | Exceptional growth, listings 53% below average |
| Canberra | +1.7% | +2.5% | +3.4% | 4.0% | 4.0% below peak | Steady recovery, government employment stability |
| Regional Market | 3-Month Growth | Annual Growth | Rental Growth (Annual) | Gross Yield | Market Characteristics |
|---|---|---|---|---|---|
| Regional NSW | +1.0% | +4.4% | +3.0% | 4.1% | Steady growth, Tamworth leading at 12.4% annual |
| Regional Victoria | +1.0% | +3.2% | +5.4% | 4.3% | Recovery strengthening, Mildura up 17.9% annually |
| Regional Queensland | +2.7% | +9.3% | +6.8% | 4.3% | Strong mining-driven demand across regions |
| Regional South Australia | +1.9% | +10.4% | +4.7% | 4.7% | Outstanding performance, Murray/Mallee up 12.6% |
| Regional Western Australia | +3.7% | +11.6% | +10.3% | 5.9% | Mining boom, Albany leading at 19.7% annual growth |
| Regional Tasmania | +0.9% | +3.6% | +2.7% | 4.5% | Modest growth, tourism sector support |
| Regional Northern Territory | na | na | +4.1% | 7.7% | Limited data, volatile conditions |
Spring Momentum: September's 0.8% monthly rise marks the strongest gain since October 2023, with spring selling season shaping up strongly as vendors claim the driver's seat amid record-low listings.
Continued Growth Expected: With quarterly growth accelerating from 1.1% in March to 2.2% in September, the growth trend is gaining momentum heading into year-end supported by lower rates and tight supply.
First Home Buyer Impact: Expanded Home Guarantee from October 1st likely to drive competition in newly accessible suburbs, potentially accelerating value growth near price cap thresholds.
Market Leadership Shift: Darwin, Perth, and Brisbane leading with quarterly growth of 5.9%, 4.0%, and 3.5% respectively, while Regional WA maintains strongest annual growth at 11.6% on mining sector strength.
Inflation Considerations: Rental market re-acceleration with 1.4% quarterly growth and record-low vacancies may present challenges for inflation trajectory given rental costs' large CPI weighting.
Data sourced from CoreLogic Monthly Housing Chart Pack October 2025 • This report provides general market information and should not be considered as financial advice