A single view of the numbers that actually move Australian property prices — rates, medians, growth, and clearance — updated periodically from public sources.
Dwelling values across the eight capitals, sorted by median.
| City | Median value | MoM | YoY | Implied $/sqm |
|---|---|---|---|---|
| Sydney | $1,295,387 | +0.3% | +4.2% | $8,636 |
| Brisbane | $1,101,151 | +0.9% | +9.8% | $7,341 |
| Perth | $1,017,698 | +1.6% | +18.4% | $6,785 |
| Adelaide | $937,021 | +1.1% | +12.5% | $6,247 |
| Canberra | $892,800 | +0.1% | +2.1% | $5,952 |
| Melbourne | $828,249 | -0.1% | +1.1% | $5,522 |
| Hobart | $737,742 | -0.3% | -1.6% | $4,918 |
| Darwin | $618,596 | +0.5% | +3.5% | $4,124 |
Source: Cotality Home Value Index, March 2026.
Target cash rate set by the Reserve Bank of Australia, 2020 to today.
Source: Reserve Bank of Australia.
The house–unit price gap has widened sharply since 2020.
Source: Cotality HVI, national aggregates.
Plain-English takes on what the numbers mean.
When the RBA lifts the cash rate, banks tighten borrowing capacity — a buyer who qualified for $800,000 last year may now qualify for closer to $700,000. Fewer competing bids means softer auction results and slower price growth, particularly at the top end. Rate cuts work the same way in reverse: cheaper debt expands what buyers can pay, and prices tend to follow within a few months.
Both cities entered this cycle materially cheaper than Sydney and Melbourne, drawing sustained interstate migration from families chasing space and yield. Perth benefits from resources-sector wages and record-low listings; Brisbane has 2032 Olympics infrastructure spending, a growing tech and health corridor, and tight rental vacancy. The result: double-digit annual growth while the southern capitals tread water.
At today's ~4.35% cash rate, mortgage repayments comfortably exceed rents in most capitals — buying looks worse on a monthly basis. But once you account for principal repayments building equity and long-term capital growth, break-even typically lands around a five-year hold in Sydney and Melbourne, and closer to three to four years in Brisbane, Perth, and Adelaide. Shorter than that and renting usually wins.
Market data is updated periodically from public sources including Cotality HVI, the Reserve Bank of Australia, and the Australian Bureau of Statistics. This page is general information only and is not financial advice.