Recent months have seen continued growth in Australian residential property values , albeit at a slower pace in July . Houses appreciated by 0.5 per cent , while units saw a slight 0.3 per cent monthly gain . The Australian property market is showing increasing variation across states and regions , reflecting growing differences in local economic conditions .
With interest rate cuts unlikely before 2025 , market urgency and sentiment have cooled . This is expected to lead to fewer property listings and sales as buyers adopt a more cautious and deliberate approach to purchases . Over the past year , house prices have climbed 8.5 per cent , bringing the national median to $ 887,691 . Unit prices have also risen , increasing by 6.5 per cent annually to reach a nationwide median of $ 658,899 .