November '25 Update

Capital Cities Overview

The capital cities continue to show consistent positive movement for both house and unit markets. Perth has seen the most sustained growth over the past 12 months. House prices in Perth, Brisbane, and Adelaide have all nearly doubled in the past 5 years.

There has been some notable reshuffling in the price hierarchy among the capital cities. Brisbane house prices exceeded Melbourne's from circa November 2024, largely due to Melbourne's relatively flat growth. This followed Brisbane unit prices rising above Canberra and Melbourne unit prices in early 2024.

Regional Centres

Year-on-year growth for all of our key regional indices is currently positive. WA is showing the strongest growth on a five-year basis for both houses and units (Bunbury and Busselton), alongside Townsville for houses. The Gold Coast and Sunshine Coast maintain their position as the highest-value regional centres for both houses and units.

Capital City SA4s

The fastest growth for house prices in the past five years has been in North Adelaide, closely followed by South East and South West Perth. For units, it is North Adelaide, followed by North and East Brisbane.

On a one-year basis, the growth trends tend to separate out cleanly by city. All of Perth has seen higher growth than Brisbane, which in turn has higher growth than Adelaide. Sydney and Melbourne are more mixed. Melbourne's Outer East has seen higher house price growth than Sydney's Inner West, North Sydney, and Hornsby regions. South East Melbourne has grown faster than Sydney's Eastern Suburbs.

For unit prices, it's Outer East Melbourne that has seen faster one-year growth than Sydney's Eastern Suburbs, City and Inner South.