Property values have hit all-time highs in almost half of Australia’s suburbs.

Cotality data shows that almost 45% of suburbs now have record property values, with Queensland taking the lion’s share. Cotality economist, Kaytlin Ezzy, says the data for the second quarter of 2025 shows how widespread the current growth phase is. It shows that Queensland and Western Australia have the highest proportion of suburbs at record highs – 78.8% and 77.7% of markets, respectively. “Several cities, including Sydney, Perth, Adelaide and now Darwin, have returned to peak, while others are still making up ground,” Ezzy says.

Melbourne had only 12.9% of its markets at record highs in June, while Canberra only had eight markets at peak levels and Hobart only had one (Brighton). Ezzy says there are a further 329 markets, which, while not at the previous record high, are still within 0.5% of it. Following a 0.6% increase in national dwelling values in June, Cotality forecasts that more suburbs will climb beyond peak values in the coming months.