March Property Market Update 2025 — The Gallery Real Estate

In March, asking prices continued to rise, with houses increasing by 0.8% nationally and units by 0.7%. Capital cities recorded average growth of 0.5% for houses and 0.9% for units. Perth again led the way with a 2.1% increase, driven primarily by strong gains in unit prices.

Rental prices also improved, averaging $727 per week for houses and $569 for units, up 5.8% compared to this time last year.

Market activity was expected to slow leading up to the federal election in early May, with many buyers and investors adopting a wait-and-see approach. The Reserve Bank of Australia maintained the cash rate at 4.10%, reflecting easing inflation and a steady economic outlook.