---
source: Cotality
url: https://discover.cotality.com/hubfs/Article-Reports/COTALITY%20HVI%20APR%202026%20FINAL.pdf
document_type: pdf
date_retrieved: 2026-04-30
period: March 2026 (released April 2026)
parent_publication: Cotality Home Value Index
indicators_covered: [Dwelling Prices MoM, Dwelling Prices QoQ, Dwelling Prices YoY, Median dwelling values]
raw_file: 401874.pdf
---

# Cotality Home Value Index — March 2026

**Media release until 00:01AM, Thursday 1st May 2026**

Sydney and Melbourne navigate the early stages of a downturn while the mid-sized capitals continue to break record highs.

Cotality’s national home value index rose **0.7% in March**, taking dwelling values **2.1% higher over the first quarter of the year**. At the national level, the pace of gains is easing, reducing from a 2.8% increase in Q4 last year, but housing outcomes are increasingly diverse from city to city and across the pricing spectrum.

The mid-sized capitals, as well as Darwin, are all recording growth of **1.2% or more** on a month-to-month basis, while Sydney and Melbourne navigate a subtle decline trend that has been evident since December last year.

> “Since the end of November 2025, Melbourne values have retreated by -0.9% and the Sydney market is down -0.4%,” said Tim Lawless, Cotality’s research director. “The softer trend in values coincides with falling auction clearance rates and a pickup in advertised supply, providing buyers with more choice and less urgency at the negotiation table.”

At the other end of the spectrum, the trend in Perth home values is showing the opposite trend, accelerating in the face of higher interest rates and lower sentiment. Housing values across the western capital were up **2.5% in the month of March** to be **7.3% higher over the quarter**.

> “In dollar terms, the 7.3% rise in Perth home values over the quarter has added approximately $69,000 to the median dwelling value,” Mr Lawless said. “Clearly this pace of growth is unsustainable, but continues to be supported by low supply, with advertised stock levels tracking about 40% below the five-year average for this time of the year.”

Conditions are also diverging across the broad value tiers, with lower quartile markets leading the pace. This trend is evident across every capital except Hobart and Canberra, but most pronounced in Sydney where upper quartile dwelling values have fallen by **1.8%** through the March quarter while lower quartile values are **1.8% higher**.

Regional markets are showing some resilience to the slowdown, with values rising **1.1% over the month** and **3.3% over the quarter**, compared with 0.6% month-on-month and 1.8% quarter-on-quarter rises across the combined capital cities. Similar to the strength in Perth, Regional WA stands out with the strongest capital gains: values are up **2.2% in March** to be **6.2% higher over the quarter**.

## Change in dwelling values (Index results at 31 March 2026)

| Geography       | Month  | Quarter | Annual  | Total return | Median value |
|-----------------|--------|---------|---------|--------------|--------------|
| Sydney          | -0.1%  | -0.2%   | 4.8%    | 8.0%         | $1,295,387   |
| Melbourne       | -0.2%  | -0.6%   | 3.4%    | 6.9%         | $828,249     |
| Brisbane        | 1.8%   | 5.1%    | 19.0%   | 23.0%        | $1,101,151   |
| Adelaide        | 1.2%   | 3.6%    | 11.4%   | 15.4%        | $937,021     |
| Perth           | 2.5%   | 7.3%    | 24.3%   | 29.3%        | $1,017,698   |
| Hobart          | 0.8%   | 2.5%    | 7.8%    | 12.4%        | $737,742     |
| Darwin          | 1.6%   | 3.4%    | 19.7%   | 27.3%        | $618,596     |
| Canberra        | 0.4%   | 1.4%    | 6.1%    | 10.5%        | $892,800     |
| Combined capitals | 0.6% | 1.8%    | 9.3%    | 12.9%        | $1,025,365   |
| Combined regional | 1.1% | 3.3%    | 11.7%   | 16.6%        | $758,788     |
| National        | 0.7%   | 2.1%    | 9.9%    | 13.7%        | $933,137     |

## Summary (National)

- **Month-on-Month:** +0.7%
- **Quarter-on-Quarter:** +2.1%
- **Year-on-Year:** +9.9%

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