After a brief slowdown, Australian home values have bounced back, with a 0.3% rise in February according to CoreLogic’s latest Home Value Index. Melbourne and Hobart, two cities that had been lagging, posted 0.4% growth, while Sydney and other major markets also saw increases.
For first-home buyers, this is a clear sign: the window of opportunity is closing. Prices are already moving up, and waiting too long could mean paying more for the same property in just a few months.
Mid-sized capitals like Brisbane, Perth, and Adelaide—which have been the strongest markets—are now slowing down. Meanwhile, Sydney and Melbourne are picking up speed, particularly in higher-end properties.
This shift in momentum means some areas may still offer affordable entry points, but buyers will need to act quickly before price growth accelerates.
Regional markets continued to outperform capital cities in February, with home values rising by 0.4%. For those looking beyond the big cities, regional areas still offer great opportunities, especially with rental demand remaining strong.
National rents jumped 0.6% in February, the biggest monthly increase since May last year. This trend means property investors will continue to enter the market, increasing competition for first-home buyers.
On the bright side, mortgage rates may start to ease as lenders pass on expected rate cuts. This could help boost buyer confidence and improve affordability—but only for those who are ready to buy now.
First-home buyers still have a chance to enter the market—but hesitation could mean missing out on today’s prices. With values increasing, rents rising, and borrowing conditions improving, those who take action now will benefit the most in the long run.
Thinking about buying? Start planning now and secure your place in the market before prices rise even further.