National Home Values Up 39% in 5 Years

Source: CoreLogic

CoreLogic’s April 2025 Housing Chart Pack reveals that national dwelling values have climbed 39.1% over the past five years, adding approximately $230,000 to the median home value. While this marks a significant rise, it’s still well behind the historic booms of the late 1980s and early 2000s, which saw five-year value jumps of 75.5% (1989) and 79.7% (2003).

“Values have remained under strong upward pressure, driven by low stock levels, resilient demand, and a relatively stable economy,” noted CoreLogic Economist Kaytlin Ezzy.

Then vs Now: What’s Driving the Market?

Historic surges were largely fueled by financial deregulation, falling interest rates, and demographic shifts, whereas the current growth cycle is underpinned by tight housing supply, population growth, and post-COVID recovery momentum.

Though moderate in percentage terms, the dollar-value growth today outpaces history. Adjusted for today's median values, the recent $230,000 rise surpasses the inflation-adjusted $140,000 (2003) and $60,000 (1989) gains.

Capital City Trends

• Sydney & Melbourne: Peaked in the late '80s and early 2000s with 80–99% five-year growth.

• Perth: The star performer, with a record 137.8% increase to 2006, compared to 75.2% recently.

• Brisbane, Adelaide, Hobart: Major gains in the mid-2000s, driven by affordability and interstate migration.

Market Snapshot – April 2025 Highlights

• Residential market value: $11.3 trillion

• Quarterly price change: +0.7% nationally (Capitals: +0.5%, Regions: +1.4%)

• Annual sales volume: 528,212 (+4.6% YoY)

• Time on market: 40 days (up from 30 a year ago)

• Vendor discounting: Tightened to -3.5%

• Annual rent growth: Slowed to 3.8%, lowest since 2021

While Australia’s property market may not be experiencing a classic boom, steady growth, strong fundamentals and tight supply are keeping values on an upward track. This isn’t the wild ride of the early 2000s — and that’s not a bad thing. Instead, we're seeing a healthier, more sustainable market, with room for investors and homeowners to build long-term value.

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