Core Logic has provided new housing data as of March 31, 2025, which shows the national median dwelling value went up 3.4% to a peak of $820.3k. This is a record high, with some cities posting a double-digit growth from the same time last year.

Perth experienced the largest growth rate at 11.9%, followed by Adelaide, 11%.

As expected, Sydney was the most expensive property market with a median value of $1.19 mil, up 0.9%.

This lift has been attributed to the increase in confidence driven in part by the February rate cut by the Reserve Bank- which was the first reduction in four years.

CoreLogic research director Tim Lawless has suggested- “probably more about the sentiment lift rather than any real uplift in serviceability or borrowing capacity.” 

There may be more upcoming challenges for the property market – slowing population growth and persistent housing unaffordability for many Australians, which could drive prices down. 

The higher housing prices have also pushed up rents, with the national rental index rising by .6% in March, according to CoreLogic. This gain, however, is marginal when compared to the 1% growth in the same time last year.