Overview

• Every capital city saw simultaneous house and unit price growth in the June quarter for the first time in four and two years respectively.
• Sydney’s median house price rose to $1.7 million while Brisbane, Melbourne, Adelaide and Perth also passed seven-figure medians and national unit values hit $689,588.
• Reserve Bank interest rate cuts in February and May boosted borrowing capacity and accelerated quarterly price rises across the housing market.
• New construction is failing to keep pace with a surge in population growth, sustaining tight listings and upward pressure on property values.
• Rental inflation slowed to its weakest second-quarter increase since 2020, yet vacancy rates remain below historical norms and rents are still unaffordable.