Cotality’s national Home Value Index posted its third consecutive monthly gain in April, with dwelling values rising 0.3% — setting a new record high. While growth was seen in every capital city, the overall pace has slightly moderated from March, reflecting a more cautious market environment.
“Household confidence slipped in April,” noted Cotality’s research director Tim Lawless, citing factors such as the US tariff announcements and uncertainty surrounding the upcoming federal election. This sentiment shift appears more evident in reduced auction volumes and new listings, rather than in prices themselves.
- Sydney and Melbourne saw modest gains of 0.2%, while Darwin led the capitals with a 1.1% increase.
- Regionally, values rose 0.6%, continuing to outpace the capitals — a trend seen consistently since late 2023.
- Despite broad-based growth, key markets such as Sydney and Melbourne remain below their previous peaks.
As Lawless observed, “With further rate cuts likely as soon as May 20th, and a level of certainty returning after the May 3rd election, we expect a further modest rise in values for 2025.”
Detached houses continue to outperform units, particularly in Sydney and Hobart, where the divergence is most pronounced. Meanwhile, the number of new listings remains subdued — hitting the lowest levels for this time of year since 2019.
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