Brett Warren , National Director – Metropole Group
The Coality Home value Index for June reveals an east coast market that’s warming back up, with Sydney, Melbourne and Brisbane each carving out their own path in this evolving cycle.
Falling interest rates have clearly played a role in fuelling buyer sentiment – but it’s how each city is responding that tells the real story.
In Sydney, values rose by 0.6% over the month and 1.1% for the quarter, keeping pace with the national average. Median values now sit at $1.21 million, reaffirming Sydney’s place as the country’s most expensive capital.
While annual growth remains a modest 1.3%, tight supply and improved buyer sentiment are helping maintain price stability. The city feels balanced – demand isn’t runaway, but neither is it retreating. With auction clearance rates holding steady in the mid-60% range, the market is ticking along, helped by a boost in confidence from lower rates.
Over in Melbourne, there are more signs of optimism. Dwelling values lifted 0.5% in June and also rose 1.1% over the quarter, though they’re still down 0.4% over the year.
With a median value of $796,952, Melbourne continues to offer relative affordability compared to its harbour city cousin. It’s not surging, but there’s a quiet resilience at play, especially as supply remains tight and the city adapts to shifting market dynamics.
Meanwhile, Brisbane is stealing the spotlight. It recorded a solid 0.7% monthly rise, 2.0% over the quarter, and a punchy 7.0% gain over the past year. With median values pushing past $926,000, Brisbane remains one of the most consistent performers in the country, buoyed by limited listings and strong internal migration.
As interest rates edge lower and confidence gradually builds, each of these capital cities is tracing its own version of market metrics – steady in Sydney, improving in Melbourne, and bullish in Brisbane.
