If you’ve been wondering why your neighbour suddenly has three different real estate agents’ cars parked out front… it’s not just the free pens. Australia’s housing market is officially on the move again — and in a big way.
According to the latest PropTrack Home Price Index, national home prices jumped another 0.6% in October, pushing us to a brand-new record high. That makes 10 straight months of growth and a 7.5% boost in values compared to this time last year. Not bad for a “cooling” market, right?
And get this — the average Aussie home has gained about $65,200 in the past year, with the median now sitting at $858,000. That’s a 51% rise over five years. (If only our pay rises kept up!)
Which Cities Are Winning?
Capital cities as a whole lifted 0.6%, but Adelaide and Brisbane clearly had a double-shot latte before jumping into October:
- Adelaide: +1.2%
- Brisbane: +0.9%
- Sydney / Perth / Hobart: all at +0.6%
- Melbourne: +0.5% (slow and steady, the Melbourne way)
Only Hobart and Canberra are shy of their previous peaks — everyone else is breaking records like it’s sport.
And the yearly MVPs?
- Darwin: +12.8%
- Brisbane: +12.6%
- Perth: +11.8%
Regional SA and QLD aren’t far behind either…
Regional Markets Still Hot – But Capitals Are Catching Up
If you’re house-hunting outside the big smoke, you’re not imagining it — competition is fierce out there. Regional prices rose another 0.6% in October, sitting 7.9% higher for the year. Lifestyle appeal, affordability, and “I just want space for the dog” energy continue to fuel demand.
But for the first time in a while, the capitals are closing the gap as sentiment improves and borrowing power rises.
Houses vs Units – For Once, They’re Neck and Neck
This is rare: house prices (+0.6%) and unit prices (+0.7%) are rising almost in sync. That hasn’t happened in years. Over the past 12 months, houses are up 7.6% and units 7.2%.
So whether you’re Team House or Team Apartment-With-a-View, both markets are playing nicely.
Queensland Takes the Annual Crown, But Sydney’s Waking Up
QLD has been the star of the past year thanks to affordability, sunshine, and investors who clearly love a surf break. But recently? Sydney’s quietly re-entering beast mode, with several regions logging some of the fastest quarterly gains.
So What’s Next?
Lower interest rates, tight supply, and insanely low rental vacancies are keeping things firmly in favour of sellers — at least for now. While we’re not in 20–30% annual growth territory (thankfully), momentum is expected to stay strong through summer.
What This Means for Us (and You!) in the Mortgage World
At Home Loans Australia, here’s what we’re seeing on the ground:
✅ Borrower confidence is back
✅ Pre-approval requests are surging
✅ Three RBA cuts since February = more borrowing power
✅ 5% deposit schemes are pulling first-home buyers back in
✅ Investors are now 40% of new loans, fuelling a two-speed market
✅ Listings are tight → urgency is high
Buyers are moving fast, competition is heating up, and we’re seeing quicker turnaround times as lenders roll out the welcome mat again.
For brokers, the opportunity is huge — but so is the responsibility. As enthusiasm rises, smart, balanced, and responsible lending is more important than ever.
If you’d like help navigating your plan — whether you’re buying, refinancing, or just trying to understand what the heck is going on in the market — Home Loans Australia is here for a chat. And yes, we still offer the good pens!
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