April '26 Update
Australian monthly price index
Published 01/04/26 · 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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- Significant Urban Area Price Distributions
- Capital Cities Overview
- Regional Centres
- Capital City SA4s
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Victorian data is currently unavailable. We apologise, and are working to add it back as soon as we're able.
Our monthly updates try to keep clear of commenting on monthly changes. They are prone to revision, easily misinterpreted, and too often used for harmful sensationalism. That being said, the market is clearly changing right now. There are strong macroeconomic reasons why the market should be changing. We want to highlight what we're observing, as we're seeing it.
Last month showed widespread flattening; this month, many regions have tipped into decline.
Mapping out the monthly changes at the Statistical Area 2 (SA2) level shows how these changes are unfolding. The market inflections are starting in the metro areas and spreading outwards. Red indicates regions that declined in value over four weeks. Blue indicates regions that grew. Use the timeline to step through the past eight weeks and watch the shift unfold.
Capital Cities Overview
House prices are flat or negative for the month in all capitals except Darwin. Growth is positive on three month to five year time periods. For units, Sydney prices are negative for the month. Adelaide, Brisbane, Hobart, and Canberra - Queanbeyan are flat or near flat. Perth and Darwin are up.
Regional Centres
Year-on-year growth for all of our key regional indices is currently positive, although multiple regions appear to be flattening. One month growth in the most expensive house markets is negative. Geraldton grew 0.9% for the month and 4% over three months, and so is leading the growth among our tracked SUA housing markets.
For units, the higher-valued regions are near flat for the month. Geraldton, Townsville, and Bunbury have risen over 20% in the year.
Capital City SA4s
As observed in the map at the top of this monthly update, there is substantial variation across metro areas. For houses, the majority are negative for the month. Some Sydney regions are also negative over the past three months. These are also the regions that have seen the smallest one-year growth. On a one-year basis, the strongest growth was in Darwin (houses) and Perth SA4s (excluding Inner Perth).
For units, three-month growths vary the most substantially across Sydney with changes observed between +1.2% and -0.4%. Brisbane is approximately flat throughout the city over 1 month, but up around 2% over three months. The other capital cities are showing a mix of growth on the 1-month horizon, but positive growth on the three-month horizon and longer.