Brett Warren , National Director – Metropole Group
Australia’s housing market is heating up, and the eastern states are right at the centre of the action.
October’s 1.1% national rise in home values marks the fastest monthly gain in over two years, with NSW, Victoria, and Queensland showing strong, broad-based growth, according to the latest Cotality Home Value Index.
In Queensland, Brisbane continues to outperform, with dwelling values up 1.8% in October and 10.8% annually. Regional Queensland is also surging, led by areas like Darling Downs and Townsville, where annual growth exceeds 14%.
Victoria is showing renewed momentum, too. Melbourne posted a 0.9% monthly rise, with middle-ring suburbs like Frankston and Brimbank recording double-digit annual growth.
Regional Victoria is quietly gaining ground, with Mildura and Bendigo leading the charge. While affordability challenges persist, the expanded five per cent deposit guarantee is helping first-homebuyers re-enter the market, especially in the lower and middle price tiers.
The New South Wales’ recovery is more measured but still promising. Sydney values rose 0.7% in October, with strong growth in outer-ring areas like Mount Druitt and St Marys. Regional New South Wales is also seeing solid gains, particularly in Tamworth and Maitland. Investor activity remains elevated, and tight supply is keeping upward pressure on prices.
Investor lending is rising at its fastest pace in a decade, and first-homebuyer activity is climbing thanks to the expanded deposit guarantee. But with affordability stretched and rate cuts off the table for 2025, the window for strategic buying may narrow.
East coast markets – especially growth corridors in Queensland and outer-ring suburbs in NSW and Victoria – are showing resilience amid tight supply and rising rents. For homebuyers and investors, the next few months could be pivotal.
