Australia’s property market stayed broadly positive in September. Brisbane led the gains, while Perth and Adelaide remained steady, and Melbourne gained momentum with an increase in pre-auction deals. Darwin topped short-term charts but remains volatile with thin demand depth. National rental conditions remained tight, and yields eased slightly due to higher prices.

Capital city performance (12-month change | average weekly move):

Brisbane: +$85,000 (+$1,600 per week) — fastest mover

Perth: +$64,000 (+$1,200 per week) — momentum returning

Adelaide: +$53,000 (+$1,000 per week) — steady, broad-based growth

Sydney: +$37,000 (+$700 per week) — moderate gains

Melbourne: +$15,600 (+$300 per week) — pace lifting; urgency rising

Key takeaways:

📊 Momentum: Brisbane still out in front; Perth and Adelaide continue to grind higher.

✅ Melbourne turning: More pre-auction activity; expect further improvement from a lower base.

🏘️ Rentals tight: Vacancies around 1.2 per cent nationally; combined-capitals yields about 3.4 per cent, with Sydney near 3.0 per cent.

⚠️ Supply shortfall: Build rate likely under one million over five years versus the 1.2 million target — ongoing stock pressure.

💡 Selectivity matters: Darwin’s headline growth masks higher volatility.

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