Almost 45% of suburbs across Australia have reached record-high dwelling values, according to Cotality’s latest Housing Chart Pack.
The suburb-level data shows that 44.8% of the 3,722 suburbs analysed were at a peak at the end of June 2025, highlighting the broad-based nature of the current housing market recovery.
Queensland and Western Australia are leading the trend. Brisbane and regional Queensland recorded the highest proportion of suburbs at peak levels, with 78.8% and 77.7% respectively.
Perth followed closely at 74.8%, while Adelaide, regional South Australia and regional WA recorded 61.4%, 58.8% and 53.6%.
Although the majority of suburbs nationwide are not yet at a record high, momentum is building. At the end of June, values across 329 suburbs were within 0.5% of their previous peak, and 290 of those saw values rise over the quarter.
Cotality economist Kaytlin Ezzy said the results show how widespread the recovery has become.
“While national indices provide a macro view, suburb-level data shows how widespread this growth phase really is. The fact that so many suburbs are either at or just shy of their peak shows not only the diverse recovery in markets like Sydney and Melbourne, but also the continued resilience of recent hotspots including Brisbane, Perth and Regional Australia.”

The data also points to stark regional variations. While cities like Sydney, Perth, Adelaide and Darwin have returned to peak, others are still regaining lost ground.
Across Melbourne, just 12.9% of suburbs reached a record high in June. Canberra had only eight suburbs at peak, and Hobart just one: Brighton.
Despite recent growth, values in Melbourne, Canberra and Hobart remain 3.9%, 5.3% and 10.2% below their 2022 peaks respectively.
Ms Ezzy noted that for buyers, this means there are still markets where prices remain more affordable than they were three years ago.
Darwin marked a major milestone, with its dwelling value index hitting a new record high in June – the first in more than a decade. Following a prolonged downturn where values dropped 26.7% between 2014 and 2020, Darwin’s market has turned a corner.
“Market dynamics across Darwin’s housing market have undergone a remarkable transformation.”
“After years of subdued conditions following the end of the mining infrastructure boom, we’re now seeing demand and supply rebalancing in a way that supports further value growth,” she said.
“Investor activity has surged 98.2% year-on-year, while advertised supply remains tight and sales volumes have jumped 44%, all contributing to a renewed upswing in values.”
“Although unit values across the city remain below their previous highs, the broader dwelling market has firmly turned a corner.”
Ms Ezzy said demand and supply dynamics have rebalanced. Investor activity surged 98.2% year-on-year, advertised supply remains tight, and sales volumes rose 44%, all contributing to the city’s renewed growth.
While unit values remain below peak, overall dwelling values in Darwin are now at a new high.
Nationally, dwelling values rose 0.6% in June, lifting quarterly growth to 1.4%.
This marks an acceleration from the 0.9% rise in Q1 and a recovery from the 0.1% fall over the December quarter.
For the 2024–25 financial year, national home values rose 3.4%, matching the annual growth recorded over the 12 months to May.
The performance gap between regional and capital city markets is also narrowing.
While combined regions posted slightly stronger quarterly growth (1.6%) than the capitals (1.4%), the capitals recorded higher monthly gains through May and June.
Darwin led the capitals in quarterly growth, up 4.9% over the three months to June, followed by Perth (2.1%) and Brisbane (2.0%).
Cotality estimates 531,457 national property sales occurred in the 2024–25 financial year, a 2.7% rise from the 517,597 transactions recorded in 2023–24.
However, properties are taking longer to sell, with the median time on market rising to 35 days in the June quarter, up from 34 days in March and 29 days a year earlier.
New listings remain tight, with just 33,159 properties advertised nationally over the four weeks to 29 June, the lowest for this time of year since 2020.
Total listings are now 16.7% below the five-year average. Rental growth also slowed, with the national rental index recording its smallest second-quarter increase (1.3%) since 2020.