PIPA report highlights shifting trends in Australia's property markets
Brisbane has surpassed Melbourne to record the nation’s second-highest median house price, according to the latest National Market Update from the Property Investment Professionals of Australia (PIPA).
The report, which compiles analysis from market specialists and PIPA members, points to rate cuts, increased migration, and infrastructure projects as key factors influencing property trends across major cities and regional centres.
PIPA chair Lachlan Vidler described Brisbane’s median house price exceeding $1 million as a significant milestone, attributing the rise to limited housing supply, strong migration, and investment in Olympic-related infrastructure.
“Property markets across the country are showing signs of recovery, with interest rate cuts triggering renewed buyer momentum and investors targeting value-rich suburbs in Perth, Adelaide, and select regional hubs,” Vidler said (pictured right). “The NSW market in 2025 remains cautiously optimistic, buoyed by interest rate cuts and selective demand in Sydney and regional areas.
“A-grade assets are performing well, while regional towns with infrastructure and lifestyle appeal continue to offer long-term investment potential. Victoria’s property market is regaining confidence, especially in Melbourne’s outer suburbs and regional centres like Geelong. Strong population growth, low vacancy rates, and improving affordability are driving renewed interest despite ongoing supply challenges.”
Vidler noted that Brisbane’s property price growth is being led by low supply, high migration, and increased investor interest. “Unit prices and affordable suburbs are attracting both first-home buyers and investors, supported by Olympic infrastructure momentum,” he said.
Perth was identified as a leading growth market, with the report citing supply shortages and population increases as drivers of rapid price growth and off-market transactions. Demand is also expanding from houses to well-located units as affordability becomes more constrained.
Adelaide’s market continues to strengthen, with low vacancy rates and rising prices supporting investor activity, particularly in coastal and inner suburbs. “Infrastructure upgrades and relative affordability cement its position as one of the country’s most balanced markets,” Vidler said.
The report indicates that Hobart is entering a recovery phase, with growing demand for units in inner-city areas and improved sales activity. Regional Tasmania is also showing early signs of improvement, though growth remains inconsistent.
Canberra’s property market is described as subdued but stabilising, with modest value increases and cautious buyer behaviour following recent election uncertainty. The report suggests that regulatory changes and infrastructure projects could stimulate future interest, though high holding costs remain a concern for investors.
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