Migration, infrastructure and easing rental pressure drive renewed activity across key regions
Australia’s housing market wrapped up the 2024–25 financial year with renewed buyer confidence and solid activity across major regions, according to a national review released by the Real Estate Buyers Agents Association of Australia (REBAA).
The report outlines key growth indicators, including increased migration, new infrastructure developments, and resilient housing demand. REBAA president Melinda Jennison (pictured) said several markets, including Brisbane, Melbourne, and Tasmania, showed strong signs of recovery and future potential.
“NSW’s property market ends the financial year with solid gains and signs of fresh momentum, as buyer activity picks up and regional hotspots surge ahead,” she said. Jennison noted easing rental pressures and ongoing infrastructure investment were creating a more stable outlook for the year ahead.
Melbourne experienced a lift in buyer interest, with improving rental demand and additional stock contributing to a more optimistic forecast. “With stabilising rates, increased migration, and more stock hitting the market, the city is shaping up as a prime spot for savvy investors and first-time buyers alike,” Jennison said.
Brisbane continued its upward trajectory, with home values surpassing the million-dollar median. According to Jennison, population growth and future developments linked to the 2032 Olympics were fuelling ongoing demand. “Brisbane’s housing market has hit record highs, as strong migration and investor confidence pushed prices past the million-dollar median mark,” she said.
Tasmania also showed strong performance, especially in the unit sector. “From surging interest in units to packed open homes and tightening supply, momentum is clearly building as we head into the second half of the year,” Jennison said.
In Perth, buyer activity remained strong despite a more modest pace of growth. Limited housing supply and increased demand from both upgraders and investors contributed to sustained price strength. “Rising values, improved affordability, and renewed interest from upgraders and investors have reignited confidence heading into the new financial year,” she said.
Meanwhile, Canberra has seen four consecutive months of house price growth. “Canberra’s property market is turning a corner, with four straight months of price growth and a new wave of first-home buyers re-entering the scene,” Jennison said, citing policy reforms and infrastructure projects like the expanding light rail as contributing factors.
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