Overview

• National values rose for a seventh straight month, up 0.7% to a median A$848,858, the strongest monthly gain since May 2024, according to Cotality.
• Buyer demand has been supported by three Reserve Bank rate cuts this year, rising real wages and improved confidence.
• Advertised listings sit about 20% below the five-year average, with roughly 120,000 properties on market versus a typical 150,000, reinforcing a seller’s market.
• Gains were broad-based across capitals in August: Brisbane up 1.2%, Sydney 0.8% and Melbourne 0.3%, while Hobart slipped 0.2%.
• Rental conditions remain tight with a national vacancy rate near 1.5%, and analysts say the expanded First Homebuyer Guarantee from October 1 could add short-term price pressure while supply stays constrained.