CoreLogic’s daily dwellings value index shows that Australian home values across the five major capital cities rose for a second consecutive month, increasing by 0.4% in March.
As illustrated above, all major capital city markets recorded rising values in March.
Over the first quarter of 2025, values at the 5-city aggregate level rose by 0.5%, with all major capital city markets recording increases.
Over the past year, home values rose by 3.0% at the 5-city aggregate level. This rise was driven by the smaller markets – Brisbane (8.0%), Adelaide (11.2%) and Perth (12.4%).
By contrast, Sydney (0.9%) recorded soft annual growth and Melbourne (-2.8%) home values fell.
The following chart plots the rolling 28-day change across the major markets.
As you can see, all major markets have recorded rebounding growth following the Reserve Bank of Australia’s (RBA) 0.25% February interest rate cut.
Most economists believe that the RBA will cut rates again at its mid-May meeting, followed by additional cuts throughout the year.
As a result, Australian dwelling values are poised to continue rebounding in 2025.
