Median house prices around Australia: February 2025

Property is one of Australia's favourite investment vehicles, and no wonder. Previous Your Mortgage analysis found house prices rose by more than 1,400% over the 44 years to October 2024. 

Property values have been influenced by a variety of factors in recent times, including rising interest rates, supply shortages, and shifting buyer demand. Experts suggest price growth may have peaked, with expectations of a more gradual increase moving forward.

So, where does that leave house prices across Australia right now? Keep scrolling as we dive into the latest dwelling value data, courtesy of CoreLogic.

What's Australia's median house price in February 2025?

As of 31 January 2025, the median house price in Australia stands at $878,367.

However, house prices vary significantly depending on location, particularly between major cities and regional areas. Across the eight capital cities, the median house price currently sits at $1,010,182, with Sydney leading the market and Darwin remaining the most affordable.

In contrast, the combined median house price for regional areas across the country is $670,346, offering more affordable options outside major metropolitan hubs.

What's Australia's median unit price in February 2025?

As of 31 January 2025, the median unit price across Australia is $668,874.

Unit prices tend to be higher in capital cities due to greater population density and demand. Currently, the median unit price in capital cities is $686,947, while in regional areas, it sits at $581,394.

Units remain a popular choice for investors and first-home buyers, particularly in metropolitan areas, due to their relative affordability compared to houses and strong rental demand.

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Median house prices in Sydney

Greater Sydney's property market remains one of the most expensive in Australia, with a median house price of $1,474,032 and a median unit price of $857,969. Combined, the city's median dwelling price sits at $1,193,228.

While this reflects a -0.4% decline compared to 31 December 2024, Sydney property values have increased by 68.6% over the past decade.

Among the suburbs experiencing the fastest price growth in the past 12 months are Fairfield (+13.1%), St Marys (+11.2%), and Bankstown (+10.3%).

Median house prices in Melbourne

Greater Melbourne's property market has underperformed relative to other Australian capital cities, ending January with a median house price of $917,132 and a median unit price of $602,602. Combined, the city's median dwelling price sits at $772,317.

While this reflects a -0.7% decline compared to 31 December 2024, Melbourne property values have grown by 47.5% over the past decade.

Among the suburbs experiencing the fastest price growth in the past 12 months are Dandenong (+0.8%), Casey - North (+0.2%), and Tullamarine - Broadmeadows (+0.2%).

Median house prices in Brisbane

Greater Brisbane's property market continues to grow steadily, with a median house price of $977,343 and a median unit price of $685,291. Combined, the city's median dwelling price sits at $893,592.

This represents a 0.3% increase compared to 31 December 2024, with Brisbane property values rising by 90.8% over the past decade.

Among the suburbs experiencing the fastest price growth in the past 12 months are Springwood - Kingston (+15.4%), Ipswich Inner (+15.3%), and Ipswich Hinterland (+14.6%).

Median house prices in Adelaide

Greater Adelaide's property market remains strong, with a median house price of $872,553 and a median unit price of $590,650. Combined, the city's median dwelling price sits at $819,363.

This reflects a 0.7% increase compared to 31 December 2024, with Adelaide property values surging by 93.4% over the past decade.

Among the suburbs experiencing the fastest price growth in the past 12 months are Playford (+17.6%), Salisbury (+16.2%), and Gawler - Two Wells (+15.5%).

Median house prices in Perth

Greater Perth's property market continues to grow, with a median house price of $843,805 and a median unit price of $591,093. Combined, the city's median dwelling price sits at $809,870.

This represents a 0.4% increase compared to 31 December 2024, with Perth property values rising by 55% over the past decade.

Among the suburbs experiencing the fastest price growth in the past 12 months are Swan (+21.8%), Mundaring (+21.3%), and Kwinana (+21.3%).

Median house prices in Hobart

Hobart's median house price is $698,345 while its median unit price is $522,971. Combined, the city's median dwelling price sits at $658,180.

That's in line with where prices were at the end of 2024, but Hobart property values have risen 87.2% over the past decade.

Among the suburbs experiencing the fastest price growth in the past 12 months are Sorell - Dodges Ferry (+3.1%), Hobart - North and West (+1.5%), and Brighton (+0.7%).

Median house prices in Canberra

The ACT capital's property market has a median house price of $968,907 and a median unit price of $583,486. Combined, its median dwelling price sits at $850,534.

This reflects a -0.5% decline compared to December 2024, with Canberra property values rising by 61.8% over the past decade.

Among the ACT suburbs experiencing the fastest price growth in the past 12 months are Molonglo (+1.8%), Tuggeranong (+1.3%), and Belconnen (+0.8%).

Median house prices in Darwin

Greater Darwin's property market remains relatively affordable, with a median house price of $582,971 and a median unit price of $366,694. Combined, the city's median dwelling price sits at $502,632.

This reflects a 0.6% increase compared to December 2024, with Darwin property values falling by 2.9% over the past decade.

Among the areas experiencing the fastest price growth in the past 12 months are Litchfield (+2.4%), Palmerston (+2.2%), and Darwin Suburbs (+1.7%).

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