Price movements
Australian property prices continue to demonstrate resilience with modest monthly growth across February 2025. House prices recorded a 0.2 per cent monthly increase, bringing the national mean to $909,617, while unit values rose by 0.2 per cent to reach $675,820. The market’s steady performance reflects ongoing supply constraints balancing against affordability challenges, with both market segments now well above their previous peak values.
The recent interest rate cut by the Reserve Bank of Australia marks a significant shift in monetary policy, potentially signalling a more favourable environment for property market activity in the coming months. This development, coupled with sustained population growth and continued construction sector challenges, suggests the market’s upward trajectory may strengthen through the remainder of 2025.
The unit market across major cities has stabilised in February, with overall values increasing by 0.1 per cent for the month. Perth units continue to lead year-on-year growth metrics at 15.5 per cent, though show no movement in February with a median value of $585,100. This performance aligns with broader economic strength in Western Australia.
Brisbane and Adelaide remain strong performers in the unit sector, recording annual growth of 11.4 per cent and 11.3 per cent respectively. Brisbane’s median unit price now sits at $688,337, while Adelaide’s reaches $610,804. Both markets experienced minimal monthly change but maintained their positions as growth leaders.
Gold Coast units continue to command premium values at $882,218, with monthly growth of 0.3 per cent and annual appreciation of 6.8 per cent. Sydney units remain the most expensive at $892,184 but with more subdued annual growth of 2.9 per cent. Melbourne continues to underperform the national average with just 0.7 per cent annual growth, reflecting broader challenges in Victoria’s property market.
Nerida Conisbee – Chief Economist
Average West End Sale Prices March 2025
1 bed apartment $515,000 (Low $500,000 High $695,000)
2 bed apartment $800,000 (Low $520,000 High $1,125,000)
3 bed apartment $1,650,000 (Low $1,280,000 High $2,350,000)
House $1,726,000
REA 15/3/2025
West End House Data – REA 15/3/2025
