Property Update - April 2026

Monthly highlights
 

• Australian home values were 2.1% higher through the March quarter, a slowdown from the 2.8% rise in Q4 last year.

• While a clear divergence in growth trends persists, every capital city is losing some momentum. The rolling four week change has deepened a little across Sydney and Melbourne, while the mid -sized capitals lose some steam.

• The annual trend in home sales has been supported by rising demand side fundamentals through 2025. More recently, the quarterly trend is showing some weakness, with estimates for the first quarter of the year tracking 1.9% lower than a year ago and 5.6% below the five - year average.

• Vendor activity has been lower than average for this time of the year. The flow of new listings moved through a seasonal high in early March but has tracked below the five - year average through the year -to - date. Over the four weeks to April 5 th , the number of new listings added to the market nationally was 3.3% lower than a year ago and 6.1% below the five - year average.

• Rental markets remain extremely tight, recording a vacancy rate of 1.6% in March, up from 1.5% in February but well below the decade average of 2.5%. Annual rental growth has reaccelerated since July last year, rising from 3.4% growth over the 12 months to June 2025 to 5.7% in March.

• The volume of home lending was 5.1% higher in the December quarter of 2025, easing from a 5.7% rise in Q3. Similarly, growth in the value of home lending eased from 10.9% in Q3 last year to 9.5%. Investors continue to drive lending indicators, with the volume of home lending for investment purposes up 5.5% over the quarter and 23.6% higher over the year, while owner occupier lending was 4.8% higher over the quarter and up 7.4% compared with a year ago.

• The Reserve Bank of Australia (RBA) hiked rates for the second straight meeting, lifting the cash rate to 4.1% in March

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