New data from CoreLogic and PropTrack shows that home values have started climbing again:
✅ CoreLogic’s Home Value Index: +0.4% in March
✅ PropTrack’s Home Price Index: +0.27% in March
✅ National Median Home Value (PropTrack): $799,000
Experts believe the rate cut has boosted buyer confidence, leading to renewed demand. CoreLogic’s research director, Tim Lawless, stated that improved sentiment following the cut was the key driver of this price rebound.
Which Markets Are Seeing the Biggest Gains?
While home prices are rising nationwide, some areas are performing much better than others. Mid-sized capitals and regional areas are leading the way, with some of the strongest monthly growth recorded in:
🏆 Darwin: +1.0%
🏆 Adelaide: +0.8%
🏆 Melbourne: +0.5% (Median home value: $778K)
🏆 Brisbane: +0.4% (Median home value: $876K)
🏆 Sydney: +0.3% (Median home value: $1.1M)
In contrast, Hobart was the only capital city to see a decline in March.
Meanwhile, rental prices have also climbed to record highs, with CoreLogic’s rental index rising 0.6% last month.
What’s Next for the Property Market?
While prices are rebounding, experts warn that growth may remain modest. Affordability pressures continue to weigh on buyers, and future rate decisions from the Reserve Bank will play a crucial role in shaping the market’s trajectory.
For buyers, lower interest rates could mean a good opportunity to enter the market—but competition is rising. For sellers, improving prices might offer a chance to get strong returns.
🔎 Thinking about buying or selling? Now might be the right time to review your options and make informed property decisions.
💬 What do you think? Are you seeing changes in your local property market? Drop your thoughts in the comments below!
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