PHOTO: Property agents on the ground say optimism about future rate cuts is already influencing buyer behaviour. ABC
Australia’s housing market just broke another record — with national property values hitting a new high in July — even as the Reserve Bank left interest rates on hold and affordability concerns grow louder.
According to fresh data from property research powerhouse Cotality (formerly CoreLogic), national home values rose another 0.6% last month, marking six straight months of gains and pushing the median property price to $844,000.
That’s a 3.7% increase year-on-year, with multiple capital cities showing no signs of slowing down.
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🏆 Who’s Leading the Property Price Surge?
Top monthly performers:
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Darwin (strongest gain)
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Perth
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Adelaide
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Brisbane
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Sydney
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Followed by regional areas, Canberra, Melbourne, and Hobart
“The rebound in values began when the cash rate was reduced in February,” said Cotality Head of Research Eliza Owen.
With the Reserve Bank of Australia (RBA) holding the official cash rate steady at 3.85% in July, many expected a property market pause. Instead, the opposite happened — buyers flooded in.
💰 Interest Rate Cuts in Sight – Buyers Are Already Betting On It
Property agents on the ground say optimism about future rate cuts is already influencing buyer behaviour.
“We’ve seen the shift,” said Melbourne agent Matthew John.
“Buyers are more confident, and they’re willing to stretch further on price again.”
Economists agree. With inflation cooling, speculation is mounting that the RBA could announce a rate cut on August 12.
But is this the last hurrah?
⚠️ Is the Market Near Its Ceiling?
Not everyone is popping champagne just yet.
AMP’s chief economist Shane Oliver believes that affordability constraints may soon cap further growth, particularly in cities where mortgage serviceability is becoming untenable.
“There’s only so far prices can go before the squeeze starts pushing buyers back out,” Oliver noted.
🎥 Watch the latest market breakdown here:
💡 Key Takeaway: The Aussie property market is still climbing — but the next interest rate decision could determine if we’re heading for more growth or the peak before the plateau.