Australia’s New Property Price Overview: A Two-Year Review
As of March 2025, the median price for new houses in Australia has climbed to approximately AUD 820,331, up 6.55% compared to February 2024. This steady rise has been ongoing over the past two years.
When looking at capital cities, the overall median value now sits at AUD 900,629, reflecting an annual growth of 6.47%. However, different cities show varying trends:
- Sydney: AUD 1,186,459 (+5.17% YoY)
- Melbourne: AUD 772,561 (-0.82% YoY)
- Brisbane: AUD 894,425 (+11.03% YoY)
- Adelaide: AUD 822,201 (+13.07% YoY)
- Perth: AUD 807,933 (+17.60% YoY)
Although detailed data on new properties is not widely available, broader market trends indicate that newly constructed homes largely mirror the growth seen in established residences.
The key factors contributing to this price increase include ongoing housing supply limitations, robust population growth coupled with a rebound in migration, and rising construction and land costs.
Summary: Over the past two years, the Australian housing market has exhibited steady price gains, particularly in cities such as Perth, Adelaide, and Brisbane. Conversely, Melbourne has experienced a slight dip, which may be linked to affordability issues and changes in interstate demand.
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Sources: CoreLogic, Global Property Guide, Property Update
