April Australian National Property Market Update

• National Home Value Index recorded a third straight month of growth

• Growth in house values is continuing to outpace the unit sector

• Market is showing resilience despite tariff risks

Sydney

In April, Sydney houses rose by 0.2% this month.

Top Performing Areas: Western Suburbs – Fairfield, St Marys, Wollondilly, Mount Druitt (Fairfield led with +7.4% annual growth)

• Growth: +7%+ per annum in key outer west pockets

• Cause: Outer-ring affordability, easing credit conditions, and local demand resilience continue to drive steady value gains despite broader economic uncertainty.

Rental Returns

• Yield: 3.1% Gross Yield

• Cause: Rental yields remain compressed due to persistently high dwelling values, with Sydney now showing the lowest gross yields of all capital cities.
  

Melbourne

In April, Melbourne houses rose by 0.2% this month.

Greater Melbourne - Tullamarine, Frankston, Casey, Dandenong

(Tullamarine–Broadmeadows leads with +10.9% annual growth)

• Growth: +0.5% to +1.0% per annum in outer south-east and north-west corridors

• Cause: Relative affordability and strong demand from first-home buyers and investors responding to softening interest rate expectations.

Rental Returns

• Yield: 3.3% Gross Yield

• Cause: Rental growth momentum has eased, but still constrained by high dwelling values and investor activity.

Brisbane

In April, Brisbane houses rose by 0.7% this month.

Greater Brisbane(whole) - Logan, Ipswich, Moreton Bay(Beenleigh leads with +12.8% annual growth)

• Growth: +10%+ annual growth in outer-metro corridors

• Cause: Continued interstate migration, strong local jobs market, and relative affordability compared to Sydney and Melbourne.

Rental Returns

• Yield: 3.7% Gross Yield

• Cause: Yields are holding firm as rent growth remains solid, especially in outer-suburban pockets.

Adelaide

In April, Adelaide houses rose by 0.4% this month.

Greater Adelaide, Playford, Gawler, Salisbury(Gawler–Two Wells leads with +13.9% annual growth)

• Growth: +12–14% annual growth across key northern and fringe suburbs

• Cause: Strong investor demand, affordability, and low stock levels are sustaining momentum and driving new price peaks.

Rental Returns

• Yield: 3.7% Gross Yield

• Cause: Yields remain stable, but high capital growth has outpaced rents in some pockets.

Perth

In April, Perth houses rose by 0.3% this month.

Greater Perth -Bayswater, Swan, Stirling (Swan leads with +14.2% annual growth)

• Growth: +12–14% annual growth across north-east and inner suburban pockets

• Cause: Market continues to benefit from high migration, investor demand, and comparative affordability.

Rental Returns

• Yield: 4.2% Gross Yield

• Cause: Despite strong value growth, Perth maintains some of the strongest yields among capital cities.

Regional

In April, Regional Cities continued to outperform the combined capitals in quarterly growth, with steady momentum driven by affordability and lifestyle appeal.

Best Performing regions over April-

• Regional SA: +1.5% – strongest monthly performer

• Regional WA: +1.0% – sustained momentum in lifestyle and resource-driven areas

• Regional QLD: +0.7%, Regional TAS: +0.6% – solid consistent growth

• Cause: Demand is supported by relative affordability, lifestyle migration, and resilient local economies.