Property prices have lifted considerably in some markets since the interest-rate cut in February, with one surprising area leading the charge.

The Reserve Bank of Australia’s (RBA) first interest-rate cut in four years marked a turning point in the market, boosting confidence and reigniting price growth.

But the impact has been greater in some markets, where prices have jumped by up to 6% in just three months.

PropTrack data from the past three months shows that one previously straggling market has taken the lead, with inner Melbourne now topping the charts for both house and unit growth.

House prices in inner Melbourne have risen 3.6% since the start of February, while unit prices have jumped 5.9%

While house prices in inner Melbourne are still a little lower than a year ago, units have now recorded positive annual growth.

Top 10 regions with the strongest quarterly house price growth

	Region (SA4)	3-month price growth	12-month price growth
1	Melbourne – Inner	3.56%	-1.10%
2	Darwin	3.29%	5.10%
3	Gold Coast	2.97%	6.48%
4	Barossa – Yorke – Mid North	2.94%	14.34%
5	Townsville	2.83%	21.86%
6	Mackay – Isaac – Whitsunday	2.81%	15.24%
7	Sydney – Inner West	2.73%	2.91%
8	Adelaide – West	2.64%	12.91%
9	Central Coast	2.38%	2.80%
10	Darling Downs – Maranoa	2.14%	13.34%

The data covers price growth for SA4 regions, which are geographical areas defined by the Australian Bureau of Statistics (ABS) with a minimum population of 100,000 people.

It suggests Melbourne’s long-awaited recovery is now underway, with prices for homes close to the CBD growing off the back of the latest interest-rate cut.

Top 10 regions with the strongest quarterly unit price growth

	Region (SA4)	3-month price growth	12-month price growth
1	Melbourne – Inner	5.90%	1.11%
2	Gold Coast	2.99%	7.19%
3	Melbourne – Inner South	2.96%	-1.52%
4	Melbourne – North West	2.63%	0.67%
5	Brisbane Inner City	2.49%	13.71%
6	Perth – South West	2.48%	17.21%
7	Sunshine Coast	2.47%	9.89%
8	Richmond – Tweed	2.31%	6.07%
9	Brisbane – North	2.26%	15.01%
10	Townsville	2.24%	23.58%

REA Group senior economist Anne Flaherty said Melbourne’s relative affordability after years of price stagnation meant more buyers were becoming active in the market.

“Home prices have underperformed the rest of the country so much and are now cheaper than Brisbane, Adelaide and on track to be cheaper than Perth,” she said.

“That’s driving a lot of people to see value on the Melbourne market.”

Melbourne prices recover as sentiment improves

Buyer sentiment towards Melbourne’s property market has been building, with REA Group’s most recent Residential Audience Pulse survey finding 40% of Victorian buyers felt it was a good time to buy a property – a higher proportion than any other state.

“We’ve seen a really strong turnaround in how buyers view Melbourne,” Ms Flaherty said.

More Victorians now expect prices to rise further this year, according to the latest Westpac-Melbourne Institute Index of House Price Expectations.

“Consumer house price expectations recorded a particularly big 14% rise in Victoria, coming from a markedly weaker starting point,” said Westpac head of Australian macro-forecasting Matthew Hassan.

Ms Flaherty said many investors were considering Melbourne again after the city fell out of favour in recent years due to disincentives in the form of extra taxes and costs to keep rental properties compliant with regulations.

“Despite all the disincentives, the lower price point could be driving more people to consider investing,” she said.

In the unit market in particular, the strong performance in inner Melbourne came after a period of softness due to high numbers of apartments for sale, Ms Flaherty said.

Real estate agent and BigginScott Richmond director Andrew Crotty said more people were looking to buy as a result of February’s interest-rate cut and high rental prices.

“Last year the investors were getting out of the market, but now with interest rates dropping we are noticing they are re-entering the market, particularly with units,” he said.

“Rents are high so if you’re a first-home buyer or a young couple it’s the perfect time to jump in.”

Nelson Alexander Flemington principal Jayson Watts said rising values meant more people were compromising on their ideal suburb to get into the market, before further rate cuts push prices higher.

“We’re getting a lot of people priced out of Fitzroy and Carlton who are coming over to Flemington and Kensington,” he said. “That hasn’t happened for about three years.”

“We’ve seen the bottom of the market and talks of further rate cuts are starting to get people thinking that in 12 months’ time it’s going to be worth more.”

Other inner-city regions have also recorded quick gains in recent months, especially in the unit market.

House prices in Sydney’s inner west have increased by 2.7%, while unit prices are up about 3% in Melbourne’s inner south and 2.5% in Brisbane’s inner city.

“Overall Greater Sydney hasn’t seen particularly strong growth year-on-year,” Ms Flaherty said. 

“But we had seen prices decrease in December last year and now following the February rate cut we did see a jump.”

Inner-west real estate agent and Cobden Hayson director Matthew Hayson said buyers were most active for homes in the $1.5 to $3 million range.

“A lot of the stock that’s coming onto the market in that space is selling quickly,” Mr Hayson said.

“Those people are aspirationally still moving through the cycle.

“People might be coming out of an apartment, or the bank of mum and dad might be helping.

However, activity was slower for higher-value homes, he said.

“Anybody [who is] borrowing big is less confident.”

High rental yields drive investors north

Another long-awaited recovery appears to be underway in Darwin, with house prices up 3.3% and unit prices up 2.2% in the past three months, which follows several years of underperformance.

Ms Flaherty said Darwin was facing an undersupply of housing, with the rate of new home construction falling behind the rate of population growth.

“There was a 44% shortfall in new homes built in FY24, and a 49% shortfall in FY23,” Ms Flaherty said. “That’s one of the things that’s been underpinning Darwin.”

The Northern Territory capital was also on investors’ radars due to the potential for strong rental returns, with higher rental yields than any other capital.

“From an investing perspective, Darwin offers very high yields,” Ms Flaherty said. “The median price of home in Darwin is relatively low but the rents are relatively high.”

Top 10 regions with the strongest annual house price growth

	Region (SA4)	3-month price growth	12-month price growth
1	Townsville	2.83%	21.86%
2	Central Queensland	1.83%	18.51%
3	Mackay – Isaac – Whitsunday	2.81%	15.24%
4	Barossa – Yorke – Mid North	2.94%	14.34%
5	Darling Downs – Maranoa	2.14%	13.34%
6	Adelaide – West	2.64%	12.91%
7	Toowoomba	0.92%	12.23%
8	Ipswich	1.25%	12.05%
9	Perth – North West	0.33%	11.91%
10	Western Australia – Wheat Belt	-0.38%	11.63%

The data shows prices have climbed even higher in strong markets outside the capitals.

For annual growth, Queensland regions come out on top, with six of the top 10 regions found in the sunshine state, led by Townsville – where house prices have grown by almost 22% and unit prices are up 23.6% compared with a year ago.

“Townsville has been an investor hotspot over the past 12 months so that’s driven a lot of funds into the area that have pushed up the prices,” Ms Flaherty said.

“Last year we saw astronomical growth, and year-on-year it’s still the best performing region in the country.”

Top 10 regions with the strongest annual unit price growth

	Region (SA4)	3-month price growth	12-month price growth
1	Townsville	2.24%	23.58%
2	Perth – North East	0.61%	17.67%
3	Perth – South West	2.48%	17.21%
4	Perth – North West	1.44%	16.92%
5	Logan – Beaudesert	1.55%	16.18%
6	Moreton Bay – South	1.15%	15.38%
7	Ipswich	1.56%	15.06%
8	Brisbane – North	2.26%	15.01%
9	Moreton Bay – North	1.16%	14.76%
10	Brisbane Inner City	2.49%	13.71%

However, while Townsville was the fifth-fastest-growing property market in the past three months, this was slower than the pace recorded last year.

“The rate of growth in Townsville has definitely slowed down,” Ms Flaherty said.

“A lot of the regions that have been the best performers over the past 12 months aren’t necessarily the ones that have been the best performers over the quarter.

“We’re seeing a bit of a shift in where investors are looking.”

The post ‘Really strong turnaround’: Where property prices have surged since rates were slashed appeared first on realestate.com.au.

An architect couple’s enchanting home flip has put a little-known Gold Coast Hinterland suburb on the map.

Rebecca and Murray Stewart have listed their beautifully renovated acreage property in Neranwood — a tiny semi-rural community with a population of just 79 people.

Situated on 10 acres, the four-bedroom, three-bathroom home offers a rare combination of total privacy, skyline views stretching from Main Beach to Miami, and easy access to schools, shops and the beach.

The couple, who has two young children, purchased the property at 37 Lowry Court in September last year, drawn by its seclusion, striking coastal outlook, and remarkable connection to nature.

“The property originally caught our attention due to the access to such a large parcel of private land so close to the kids’ school, access to the M1 and the beach within 20 minutes,” Ms Stewart said.

“On inspection, we were blown away by the views, as the pictures never quite do justice to the iconic Gold Coast skyline.

“The immediate access to the Australian bush and to Hinze Dam by foot made this block such an exciting treasure to explore.”

With several renovations already under the belts, architect Mr Stewart and his teacher wife aimed to strike a balance between upholding the property’s cottage style and creating a space that was “warm and inviting yet chic and timeless”.

“We loved the country aesthetic of the home — nothing too overstated, but a very cottage feel with the wraparound verandah, the sounds of the birdlife and the visiting kangaroos,” Ms Stewart said.

Works included opening up the kitchen, adding an extra bedroom, remodelling two bathrooms, and enhancing the indoor-outdoor connection with new doors and romantic arched windows.

Multiple entertaining spaces were created, including a deck, patio, oversized outdoor table, lovebird swing, hot tub and ice bath.

Downstairs was reimagined as a family-friendly space, with a new bathroom, laundry, built-in bunk beds, games area and second TV zone.

Externally, the Stewarts cleared the fire trail and added a view platform, with the potential to further expand the property’s useable area.

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Set on the border of Mudgeeraba and Bonogin, Neranwood is a largely unknown pocket with only a handful of homes, neighbouring the Kwila Lodge wedding venue and a scattering of tea shops.

Marketing agent Nicole Carter, of McGrath Southport, said it was rare for homes to come to market in the area, with just one or two sales recorded annually.

Demand had been strong from locals chasing a private retreat close to top schools and amenities.

“We’ve been inundated with calls mainly because it is very private but also new,” Ms Carter said.

“The owners have kept the original building but modernised it inside to lift it to today’s standard while still fitting in with the beautiful national environment.”

Ms Carter said the suburb’s hidden nature was part of its appeal, despite being just 10 minutes from Mudgeeraba and within 20 minutes of Robina and the beach.

“It is a beautiful stretch that is quite tucked away so even many Gold Coast locals don’t know it exists,” Ms Carter said.

“It’s perfect for families who want to experience what it might be like going off the grid, but still want to be close to the Coast and all the amenities,” Ms Carter said.

Expressions of interest are being sought over $1.5m.

The post Architect couple’s cottage flip puts ‘secret suburb’ on the map appeared first on realestate.com.au.

Burleigh Heads has always been well-known on the Gold Coast, but in recent years its popularity has exploded.

The Gold Coast suburb will be home to the World Surf League’s (WSL) Bonsoy Gold Coast Pro from May 3 for up to 10 days, with thousands expected to descend to the beach to watch the best surfers in the world.

It is the first time an event of this size has run on the Gold Coast since 2019.

The event’s move from Snapper Rocks was forced by damage to the famed surf break and foreshore from ex-Tropical Cyclone Alfred earlier this year.

With so many eyes on the beachfront suburb, it’s no wonder the local property market continues to surge.

PropTrack data shows the median house price in Burleigh is $1.55m, up 14.8 per cent over 12 months.

Units are sitting at $1.04m, up 9.4 per cent over 12 months.

Here are five Burleigh Heads properties currently on the market:

31 Elanora Drive, Burleigh Heads

Price: Offers over $5.1m

Agent: Ed Cherry and Cooper McCormack, Coastal

Ohana Beach House is a four-bedrom home in Burleigh’s popular Koala Park.

Featured in magazines, the residence includes subtle contours, soft tones and organic textures across a multi-level floor plan.

Other feature include arched windows, curved podiums and soaring archways.

***

8 Elder Entrance, Burleigh Heads

Auction: May 16

Agent:Eoghan Murphy and Gareth Denning, Kollosche

This property includes two beach houses just 250m from Burleigh beach.

Described as having a ‘quintessentially Burleigh design’, each residence offers neutral palettes, lofty pitched ceilings, and VJ panelling.

They also have open-plan living and dining spaces that integrates with a contemporary kitchen.

Don’t forget the alfresco decks with built-in barbecues and a plunge pool and you’re set.

***

2/1 Nathan Street, Burleigh Heads

Price: $3,450,000

Agent: Conal Martin and Matt Blanch, Kingfisher Realty – Burleigh Heads

We couldn’t compile a list of properties in Burleigh Heads without including an apartment.

This three-bedroom residence is on the famous Burleigh Hill offering a rare fusion of modern sophistication and coastal serenity.

The development features nine prestigious residences, with only two apartments per floor.

Features include floor-to-ceiling windows, and seamless indoor-outdoor living options.

***

12 Belvedere Court, Burleigh Heads

For sale: Expressions of interest

Agent: Michael Bacon and Dan Rutherford, Place – Kangaroo Point

A bold beauty from the street, Belvedere stands out from the crowd with its striking modern facade, bold curves and deep colour palette.

Designed for lifestyle, the four-bedroom home described as the ultimate sanctuary includes a pool, sauna and plenty of entertaining options.

Luxury builder CHS and designer Koda Design were behind Belvedere while standout features include custom ceiling finishes by Queensland artist Chris Williams as well as Venetian plaster and micro cement walls.

***

70 Acanthus Ave, Burleigh Heads

Price: $2,685,000 negotiable

Agent: Mark Shinners and Bronte Hodgins, PRD Burleigh Heads

Coastal living really hits home here in this modern two-level designer home.

Just 800m from Burleigh Beach and within walking distance to restaurants, cafes and boutiques, this home merges low-maintenance lifestyle and entertainer’s dream.

Highlights include an open-plan lounge and dining zone that flows out to a covered alfresco terrace and pool surrounded by lush gardens.

The post Making waves: Top 5 Burleigh properties for sale appeared first on realestate.com.au.

Music executive and alt rocker Josh Simons, who played guitar with Emmanual Kelly while he opened for Coldplay last year, is selling his Patterson Lakes “opportunity home”.

Simons founded the band Buchanan in 2009, which went on to win Triple J’s Unearthed competition in 2011 and toured nationally as well as opening for acts including Keith Urban.

In 2020 he launched tech start up Vampr, described as Tinder for bands looking to find new members, which has been nominated for music industry innovation awards on multiple occasions.

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Simons is now also the chief executive of the Vinyl Group, which owns music magazine Rolling Stone Australia and in 2024 acquired The Brag Media as well as Mediaweek and Funkified Entertainment.

He also signed leading artists to Vampr’s distribution — including the Paralympian turned pop star Emmanuel Kelly, leading to his tour gig with Coldplay.

Simons and wife Tatiana returned to Australia in 2021 after buying their 6/260 McLeod Rd, Patterson Lakes, home sight unseen while still living in America, after his mother inspected it for him and described it as “an opportunity home”.

“That was code for having to rip up all the carpet and removing all the finishes and having to put in fresh paint,” Simons said.

“We probably wouldn’t have bought the home if we had inspected it, but I’m very grateful in hindsight for that, as we would have just seen the problems and not the opportunity.”

Tatiana added that they “really wanted to live in a place we loved” and they had put a lot of effort in to get that over the past four years.

In addition to the interior refresh, they have added festoon lighting and a pergola to the easy-care back yard, updated the kitchen with a new stove, and put timber floors into the living areas.

The pair are relocating to Carrum, with Asset Property’s Justin Maher selling their three-bedroom Patterson Lakes home.

Mr Maher said with a $690,000-$730,000 asking price the three-bedroom address was likely to appeal to downsizers and first-home buyers, who would appreciate the renovation and its location within walking distance of shops including major supermarkets as well as kindergartens, and a short drive to the beach.

Offers for the home must be in by 4pm on May 19.

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The post Rolling Stone Australia owner and Vinyl Group CEO Josh Simons and wife Tatiana selling Patterson Lakes home appeared first on realestate.com.au.

This week, the Federal Reserve is holding a crucial meeting that could significantly influence the housing market in 2025 and 2026. The outcome could set the stage for mortgage rate cuts or a pause in action until there are shifts in the labor market. As many have observed, President Trump has expressed dissatisfaction with Jerome Powell’s reluctance to lower rates. While replacing Powell is not currently an option, a leadership change will occur next year.

I recently wrote this article about Trump appointing a shadow Fed president, a strategy that could neutralize Powell’s impact until he leaves his position. In an interview Sunday, Trump said about firing Powell: “why would I do that? I get to replace the person in another short period of time.”  So we need to really pay attention to the Fed’s verbiage coming up in this meeting.

The “labor over inflation” model?

The markets are currently reflecting expectations for potential rate cuts, even in light of recent improvements in inflation data, cooling rent growth and declining oil prices. However, the Federal Reserve has adjusted its inflation targets, primarily in response to the trade war and the anticipated shortages of certain goods if agreements are not reached.

A critical point to monitor will be whether Powell addresses the possibility of implementing additional rate cuts if the labor market shows signs of strain due to the prolonged trade conflict. The latest jobs report represents a baseline that may not fully capture the effects of recent events, and as time progresses without a resolution, there is a potential for increased labor market pressures, especially considering federal government job reductions and the impact of budget cuts on economic circulation.

Should the Fed show a readiness to intervene if jobless claims rise, coupled with insights from Fed presidents engaging with companies and CEOs regarding workforce adjustments, it can lay the groundwork for a more dovish Fed to cut rates. Furthermore, if the focus remains on preventing sustained inflation linked to tariffs or shortages, this may influence the bond market in a negative way.

Fed presidents take their own stands

This week’s meeting is poised to signal a shift among Federal Reserve presidents away from Powell’s position. If Powell takes a more hawkish stance, the question-and-answer session will undoubtedly become crucial. Reporters are likely to probe whether other Fed presidents are beginning to prioritize the labor market over inflation concerns tied to tariffs. 

We’ve already heard Fed President Waller assert that he is prepared to adopt a more aggressive approach to rate cuts if the labor market starts to decline. Likewise, Fed President Bowman has recently made it clear that the labor market will be prioritized over inflation in their discussions.

If we continue to see increasing divergence on this topic — in this meeting and others — it could pave the way for a significant confrontation within the Fed, complicating Powell’s role if the labor market experiences setbacks.

Conclusion

While no actions will be taken by the Fed in this meeting, we are on the brink of a fascinating two-year chapter for the Federal Reserve. With Powell’s term set to conclude in May 2026, the path ahead could reveal significant challenges. As the labor market potentially weakens, we might see Powell at odds with some Fed presidents, President Donald Trump and the American public, all of whom will scrutinize his leadership if job growth falters. 

Furthermore, the emergence of a shadow Fed president in the coming year could add another layer of complexity to the landscape. So, let’s embrace the role of detectives and closely examine not only the Fed’s actions but also their statements and responses in press briefings, as these will be critical indicators of future developments.