March '26 Update
Australian monthly price index
Published 02/03/26 · Past updates ↰
/// EXPERIMENTAL ///
This is a new index model, we are still fully evaluating the results
Suggested reading: Our Core Index Set, The Distribution Model, The Geometric Mean for Property Price Indices
Model inputs are supplied under licence
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Distribution Shapes Across Significant Urban Areas
Each city in Australia has a unique distribution of property prices. A small town with a limited range of housing and a single dominant industry will tend to have a narrow and tall distribution. A major capital with many submarkets will have a wider, more complex distribution.
The shape reflects the market of each region. What's been built, what's allowed to be built, who lives there, who wants to live there, what jobs are available, and the geography of the place itself.
Below, the model at the heart of our Distribution Index reveals these price distributions across each of Australia's significant urban areas.
Capital Cities Overview
The capital cities show positive or flat growth for both house and unit markets in February. Perth units have seen the most sustained growth over the past 12 months at 21%, closely followed by houses in Darwin and Brisbane. House prices in Perth, Brisbane, and Adelaide have all nearly doubled in the past five years.
There has been some notable reshuffling in the price hierarchy among the capital cities. Perth house prices exceeded Melbourne's in early 2026, as Brisbane did in November 2024. This followed Brisbane unit prices rising above Canberra and Melbourne unit prices in early 2024. Adelaide units also surpassed Melbourne units in late 2025.
Regional Centres
Year-on-year growth for all of our key regional indices is currently positive, although multiple regions appear to be flattening.
Several regions have more than doubled in price over the past five years, including both houses and units in Bunbury and Geraldton, and houses in Townsville.
Capital City SA4s
The fastest growth for house prices in the past five years has been in North Adelaide followed by Northern and Southern Perth SA4s. For units, it is North Adelaide, followed by North East Perth.
On a 1-year basis, the strongest growth was in Darwin (houses) and Perth SA4s (excluding Inner Perth). The slowest growth was observed in the three Inner Melbourne SA4s, with units showing 12-month growth below 1.5%.