April Home Values: Mid Sized Capitals Continue To Climb

Home Values in March continued to rise nationally, with mid-sized cities like Brisbane, Adelaide and Perth leading the way. Meanwhile, Sydney and Melbourne home values slipped slightly, painting a picture of two different markets.

What is the Home Value Index (HVI)?

The Home Value Index (HVI)^[1], also known as the Hedonic Home Value Index, leverages recent property sales from each state to track the median value growth of homes nationwide. It serves as a key metric for analysing the performance of the Australian residential property market and is useful when looking at the affordability and investment potential of states and capital cities.

Source: Cotality HVI Report March 2026

State Market Report.

These median values are as of 31st of March 2026

Sydney

The median home value dipped slightly by 0.1% to $1,295,387.

Melbourne

The median home value dropped  by 0.2% to $828,249.

Brisbane

The median home value has increased 1.8% to an impressive $1,101,151.

Adelaide

The median home value has increased 1.2%. The median home value is now $937,021.

Perth

The median home value has increased a record 2.4%, making Perth the third Million Dollar Market with a median value of $1,017,698.

Hobart

The median home value has increased 0.8% , and is now $$737,742.

Darwin

The median home value has increased 1.6% and is now $618,596.

Canberra

The median home value has increased 0.4% and is now $892,800.

Melbourne and Sydney Continue to Fall. 

Arguably Australia’s two biggest capital cities both recorded an easing in national home values. Advertised supply is growing and auction clearances are also reducing, showing a dip in the market.

Perth Becomes a Million Dollar Home Value Market. 

Despite cost of living factors, Perth continues to see strong growth across the board. In one quarter alone, the median home value has increased approximately $69,000[2].

What Does This Mean? 

We’re continuing to see a tale of two markets. While cost of living pressures have seemingly impacted activity in big cities, the mid size cities are still growing confidently. Time will tell if this continues to be the case.

Increasing values are great news for home owners in those mid size cities, as it could help increase the equity in their home. Meanwhile, Sydney and Melbourne’s slight reduction could provide home buyers and investors some breathing room, and potential opportunity to enter the market.

If you’re weighing up your next move, be sure to reach out to us. We can help you buy, refinance, access equity, build an investment folio and more! Get in touch with us today.

[1] Cotality.com. (2026). Sydney, Melbourne slip while mid-sized cities break records. [online] Available at: https://www.cotality.com/au/insights/articles/sydney-and-melbourne-navigate-the-early-stages-of-a-downturn-while-the-mid-sized-capitals-continue-to-break-record-highs [Accessed 7 Apr. 2026].

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