Australian homeowners have seen significant equity gains, with more than $100,000-plus in a year added to typical home values in 26 distinct property markets across the country, despite a challenging national economic backdrop. This remarkable growth comes even as the national property market experiences a cooling trend, marked by three consecutive interest rate rises and federal budget measures impacting investor demand, specifically the abolition of negative gearing and the capital gains tax discount for existing properties.
The latest data, released on June 2, 2026, by realestate.com.au and compiled by PropTrack, reveals a highly localised market performance. While the median national value remained flat in May, a granular analysis at the SA4 region level, geographical areas defined by the Australian Bureau of Statistics, paints a picture of robust growth in specific pockets. These regions, typically encompassing 100,000 to 500,000 people, are defying broader slowdowns, offering substantial windfalls for homeowners.
The Localised Boom: Perth and Brisbane Lead the Charge
The standout performers in this period of accelerated growth are undoubtedly the property markets of Perth and Brisbane. These two capital cities dominate the list of regions where homeowners have seen their property values surge by six figures. Inner Perth leads the nation, with a staggering $280,000 increase in median house values over the past 12 months, reaching a median of $2,263,000. Following closely are Perth – North West and Perth – South West, which recorded increases of $212,000 and $202,000 respectively.
Brisbane’s property markets also feature prominently, with Brisbane – North seeing a $193,000 rise in median house values, and Brisbane – West experiencing an increase of $184,000. Other notable regions include Moreton Bay – South ($166,000), Sunshine Coast ($157,000), Ipswich ($152,000), and Logan – Beaudesert ($147,000). Even outside the major capitals, regions like Darwin ($108,000) and Cairns ($103,000) have provided homeowners with more than $100,000-plus in a year. This widespread growth in specific areas underscores the fragmented nature of the Australian property landscape.
The unit market has also mirrored this strong performance in many of these regions. Logan – Beaudesert units saw an impressive $165,000 jump, followed by Ipswich ($163,000) and Brisbane – West ($162,000). Perth’s unit markets also delivered substantial gains, with Perth – North West units rising by $150,000 and Perth – South East by $142,000.
“One of the drivers of the western suburbs that attracts families to the area are the school catchments. A lot of buyers are moving from the southern suburbs, and we’re also seeing strong interstate migration with buyers moving from Sydney, Melbourne and Adelaide.” – Alex Jordan, Real Estate Agent, McGrath Paddington
Interest Rate Headwinds and Shifting Dynamics
Despite these impressive gains, the article highlights that some of the heat may be coming out of these booming markets. PropTrack executive manager of economics, Angus Moore, observed that while Perth, Brisbane, and Adelaide experienced an extremely strong 2025, a slowdown is now evident. Prices were slightly down in Perth in May, and while Brisbane and Adelaide saw modest growth, it marked their slowest month since late 2022 to early 2023. This suggests that the three back-to-back interest rate rises have begun to exert pressure, even on previously resilient markets.
Indeed, more interest rate-sensitive inner-city areas, particularly in Sydney and Melbourne, have already recorded declines of 2-3% in the past quarter. While Perth’s inner and north-east regions, and Brisbane’s east, have seen small price falls in recent months, these are minor corrections after a year of delivering hundreds of thousands of dollars in housing wealth. Alex Jordan of McGrath Paddington noted a shift in buyer behaviour, with slightly less activity at inspections and increased buyer nervousness due to geopolitical tensions. However, he remains cautiously optimistic, stating, “It hasn’t hit values noticeably but I don’t think we’re immune from that. Maybe the growth will be more subdued, but it’s hard to see any major softening.”
What’s Next for the Australian Housing Market?
The dichotomy between national averages and localised performance will be a key theme in the coming months for the Australian real estate market. While interest rate hikes and changes to investor incentives have undeniably cooled the broader market, specific regional drivers such as strong interstate migration, tight supply, and desirable school catchments continue to fuel significant growth in areas like Brisbane’s west, where house values jumped almost 1.5% in the past month and 4.7% in the past quarter. Cairns and Ipswich’s unit markets also show continued acceleration, with quarterly rises of 2.8% and 3.4% respectively. These localised micro-climates suggest that savvy investors and homeowners can still find opportunities for substantial equity growth, even in a tightening monetary environment.
The ongoing challenge will be balancing sustained demand in these high-growth regions against the affordability barrier created by the rapid run-up in values. As national price growth moderates, the focus will shift even more to the unique supply-demand dynamics within individual SA4 regions. The ability of these markets to continue generating over $100,000-plus in a year will depend heavily on the interplay of interest rates, population shifts, and local economic conditions.
