National Home Prices End Year on Record High

Home prices have ended the year on a record high as the median value nationally reached $821,000.

According to the PropTrack Home Price Index for the month, that was up 0.4 per cent for June on the previous month and 4.6 per cent higher year-on-year, a national home price growth of $40,900 annually.

Home prices in capital cities were up 0.4 per cent over the month to be 4.1 per cent higher than June of 2024.

Adelaide (+0.6 per cent) led price growth for June, followed by Sydney (+0.5 per cent) and Hobart (+0.5 per cent).

Annually, all capital cities recorded price growth: Adelaide (+9.8 per cent), Brisbane (+8.3 per cent) and Perth (+7.8 per cent) had the biggest rises. 

Also a record for the month was Brisbane’s median house price, lifting above $1 million for the first time.

Prices in regional areas also hit a new peak in June, rising 0.3 per cent over the month to be 6 per cent higher year-on-year.

PropTrack said that although growth in the regions had been slower than the rebound across the capitals in 2025, regional markets remained resilient, supported by affordability and lifestyle appeal.

Regional prices are now up just above 65 per cent for the past five years.

PropTrack home price index June, 2025

▲ Source: PropTrack

As interest rates had fallen, price momentum had strengthened and extended across the country, with all markets recording gains in June, the report said.

“Further interest rate cuts expected later this year will ease borrowing costs, adding to the momentum in housing demand and reinforcing recent price growth,” it said.

“As well, population growth and limited new supply are also placing upward pressure on prices, especially at the more affordable end of the market.

“With interest rates moving lower, these factors are likely to sustain price growth over the second half of 2025.

“Despite these tailwinds, the upturn remains gradual and stretched affordability will see a more measured upswing than in previous easing cycles.”

Cotality change in home values June 2025

▲ Source: Cotality (formerly CoreLogic)

Meanwhile, according to Cotality’s Home Value Index for June, Australian housing values rose by 0.6 per cent, the fifth straight month of growth after a 0.3 per cent dip between November and January.

Monthly gains were recorded across almost every broad region of Australia.

National home values for the quarter rise by 1.4 per cent, following a 0.9 per cent lift through the first quarter of the year and a 0.1 per cent decline in the last quarter of last year,

Except for Regional Tasmania (-0.4 per cent), every capital city and rest-of-state region recorded a rise in values through the quarter.

Cotality research director Tim Lawless said the first rate cut in February was a clear turning point for housing value trends.

“An additional cut in May and growing certainty of more cuts later in the year have further fuelled positive housing sentiment, pushing values higher,” he said.

Capital cities posted stronger monthly growth compared with regional areas for a second consecutive month.