Property owners weighing up a sale received more good news in September, as markets nationwide recorded their strongest monthly increase in values since October 2023. Raine & Horne’s latest data shows that tight listing volumes are a major factor underpinning this growth.

According to the Cotality Home Value Index (HVI), national values jumped 0.8% in September, driven by strong momentum across the capitals, where values surged 0.9% over the month[i].

On a quarterly basis, the national HVI climbed 2.2% — a step up from 1.5% in the June quarter and double the 1.1% rise recorded over the March quarter. In dollar terms, the September quarter increase translated to an impressive $18,215 boost in the median dwelling value.

Importantly, the upswing is broad-based. Every capital city and rest-of-state market clocked growth over the month, quarter, and past year. Still, the pace of gains is starting to separate again, with Perth and Brisbane powering ahead — up 4.0% and 3.5% respectively through the quarter, led by their thriving unit markets. Darwin is also making waves, with values soaring 5.9% higher over the past three months.

Additionally, robust auction clearance rates in capital cities demonstrate healthy buyer demand. According to Domain, Adelaide and Sydney lead the way with a clearance rate of 72%. Melbourne is close behind at 71%, and Canberra at a solid 62%[ii].

Augmenting the upbeat sentiment, Raine & Horne data for September 2025 confirms open for inspection activity remains solid year-on-year and well ahead of the middle of winter.

In addition, the expanded Home Deposit Guarantee, which went live on 1 October, will also serve as a carrot, enabling prospective first-home buyers to enter the market with as little as a 5% deposit and avoid the dreaded cost of LMI. This initiative is expected to prove popular, with demand likely to be concentrated around the new price caps for the remainder of 2025. For example, in Sydney, the price cap for the scheme has been increased from $900,000 to $1.5 million.

“With the expansion of the Home Deposit Guarantee and several interest rate cuts this year in play, demand is being fuelled even further as we head into the busiest selling season of the year,” said Angus Raine, Executive Chairman of Raine & Horne.

Yet despite the strong market metrics seemingly in their favour, many property owners remain on the sidelines, with Raine & Horne data showing listings are down 15% year-on-year nationally. Angus noted, “However, there is some good news. We’re seeing some green shoots that vendors may be getting itchy feet.

“Our data shows that appraisals nationally are up almost 3.5% year-on-year, which indicates more owners are beginning to recognise the positive signs for a property sale.”

“At the same time, the national median days on market is around 37 for houses and 35 for apartments and falling, a clearer sign of market strength for sellers than even auction clearance rates,” Angus added.

For those weighing up a sale before Christmas, Angus is urging vendors to act quickly. “If you want to be celebrating Christmas lunch in a new property and plan to take it to auction, you’ll need to contact a Raine & Horne agent right away to make it happen,” he said.

Change in dwelling values capital cities – September 2025

(Source: Cotality Home Value Index 1 October 2025)

If you’re considering listing a property this spring, contact your local Raine & Horne agent today.

[i] https://www.cotality.com/au/insights/articles/property-values-gain-pace-heading-into-spring-driven-by-record-low-listings?utm_source=adwords&utm_medium=ppc&utm_campaign=2025_Cotality_Search_Brand_Leads&utm_term=cotality

[ii] https://www.domain.com.au/auction-results/