Welcome to the April 2026 Property Market Update. March proved to be a landmark month for the @realty network, as we celebrate a highly successful period with a staggering $686,570,812.72 in sold property across Australia and New Zealand. This result is a testament to the continued activity and trust our clients place in our nationwide team.
Across the broader market, March 2026 was a month of “new highs” but “slower strides.” While national home prices have climbed to a fresh record, the frenetic pace of growth we’ve seen over the last year is beginning to level out.
National Overview: A New Median Peak
The Australian property market extended its current upswing in March, though the brakes are being gently applied.
- National Median Value: Now stands at $908,000.
- Monthly Growth: Prices rose by 0.3% in March.
- Annual Growth: Values are 9.4% higher than this time last year, representing a wealth increase of approximately $94,800 for the median homeowner.
Capital Cities vs. Regionals
While the headlines often focus on the big cities, the regional story remains one of resilience and lifestyle-driven demand.
Regional growth has significantly outpaced the capitals over both the last year (11.0% vs 8.8%) and the last five years (57% vs 39%), fueled by relative affordability and the “work-from-anywhere” lifestyle shift.
Market Performance by City
Brisbane, Perth, and Adelaide continue to be the “engine rooms” of price growth, while the larger markets of Sydney and Melbourne are showing signs of exhaustion.
- The Growth Leaders: Brisbane led the pack in March with a +0.7% rise. Perth follows closely at +0.5%, maintaining its title as the fastest-growing capital over the past year with a massive +20.9% increase.
- The Slowdown: In Sydney and Melbourne, price declines are starting to emerge in some inner- and middle-ring markets. This suggests these premium markets are the most sensitive to the recent interest rate environment.
The “Affordability Shift”: Units Outpacing Houses
One of the most striking trends this month is the divergence between houses and units. In March, monthly unit price growth was more than double that of house price growth.
This indicates a clear shift in buyer behavior. As borrowing capacity is squeezed by recent rate rises (with the cash rate currently sitting at 4.10%), demand is flowing toward more affordable “missing middle” stock—townhouses and apartments.
Looking Ahead: The Turning Point?
We are likely entering a slower-growth phase. Several factors are currently tugging the market in opposite directions:
The Headwinds
- Interest Rates: The RBA’s March hike to 4.10% is weighing on sentiment. Markets are currently pricing in a high probability of another increase in May 2026.
- Affordability: Higher rates combined with record prices are eroding the “buying power” of many Australians.
- Auction Results: Weaker clearance rates, particularly in Sydney, suggest the momentum has shifted from a broad upswing to a widespread moderation.
The Tailwinds
- Supply Shortage: A chronic lack of new housing completions continues to put a floor under prices.
- Labour Market: Low unemployment and steady population growth provide a “safety net” for the market, preventing a sharp correction.
The April 2026 outlook is one of caution and selection. While the market is no longer “sprinting,” the fundamental imbalance between supply and demand means that well-located properties remain in high demand.
Whether you are looking to capitalise on record prices or find value in the shifting unit market, the @realty team is here to provide the local expertise you need to navigate this turning cycle.