Property Update - October 2025

Monthly highlights
 

• Momentum in national housing values has continued to build, with dwelling values up 2.2% over the three months to September. This is the largest quarterly increase since the three months to May 2024 (2.2%).

• The rolling 28-day change in the combined capitals daily Home Value Index has continued to gain momentum, with values up 0.9% over the four weeks to October 4th.

• Cotality estimates 44,436 sales occurred nationally in September, taking the rolling 12-month count to 540,775. Annual sales activity across the combined capitals is roughly in line with this time last year (0.8%), with sales up across Darwin (60.1%), Canberra (12.0%), Melbourne (8.0%) and Hobart (5.5%), but down across Adelaide (-0.8%), Brisbane (-2.3%), Perth (-3.1%) and Sydney (-4.0%).

• The flow of new listings continued to rise in the four weeks to October 5, up 8.1% from four weeks prior. Selling activity has increased as a result of the seasonal uplift during spring, but likely also better selling conditions as lower interest rates support higher sales values. Despite the flow of new listings activity rising, they are still -7.6% lower than the same time last year, and -2.1% lower than the historic five-year average.

• The auction market also reflects stronger selling conditions so far this spring. The combined capital cities auction clearance rate has inched steadily higher, averaging 69.8% in the four weeks to September 28, up from 69.5% in the previous four-week period, and 61.8% in the equivalent period of last year.

• The annual rate of growth in rents continued to lift for a third consecutive month, with rents up 4.3% over the year to September nationally. Both the combined capitals and regions have seen momentum build in rent growth. Between the June and September quarters, annual rent growth in the capital cities increased most rapidly in the Brisbane dwelling market, from 3.9% to 5.6%.

• The value of new investor loan commitments rose 1.4% over the quarter to $32.9 billion — up 6.9% over the year. Investors continue to make up an elevated share of both total loan volumes (37.6%) and loan values (37.7%) relative to historic averages. This was particularly true in markets like WA, the NT and QLD, with investors potentially chasing capital gains in these recent overperforming markets.

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