Key takeaways
Global uncertainty has lifted economic risks: The escalating conflict in the Middle East has pushed oil prices higher, raising fresh concerns that inflation could remain stubbornly elevated.
Interest rate expectations have shifted again: With inflation pressures potentially lingering, financial markets are increasingly factoring in the possibility that interest rates could stay higher for longer.
Consumer confidence may soften in the short term: Rising living costs and geopolitical uncertainty are likely to make some buyers and sellers more cautious over the coming weeks.
Housing market fundamentals remain strong: Despite short-term sentiment shifts, Australia still faces a chronic undersupply of housing, strong population growth, and tight rental markets.
Property markets move in cycles, not straight lines: Short-term volatility is normal, but well-located properties in desirable areas continue to benefit from long-term structural demand.
This week the data reminded us just how fragmented the Australian housing market has become. While some capitals are barely moving and others are quietly outperforming.
Sydney property prices remained flat over the last week, remained flat over the last month but are 5.7% higher than they were 12 months ago.
Melbourne property prices dropped -0.1% over the last week, also dropped -0.1% over the last month, and increased 4.4% compared to 12 months ago.
Brisbane property prices increased 0.4% over the last week, increased 1.6% over the last month and are 18.1% higher than they were 12 months ago.
Overall, Australian capital dwelling prices increased 0.6% over the last month and are now 9.6% higher than they were 12 months ago.
Over the last week the tone in global financial markets has shifted noticeably, and that uncertainty is starting to filter through to sentiment in Australia’s housing markets.
The escalating conflict in the Middle East has pushed oil prices sharply higher, which in turn is raising concerns that inflation will remain stubbornly elevated for longer than previously expected.
Higher energy prices quickly ripple through the economy, lifting transport costs, production costs, and ultimately the prices households pay at the checkout.
Economists are already warning that the surge in oil prices could reignite inflation pressures and complicate the Reserve Bank’s job just as it was hoping price growth would moderate.
As a result, financial markets are now increasingly pricing in the possibility that interest rates may remain higher for longer and potentially even rise a few times in the months ahead.
The latest expectations suggest the Reserve Bank could be forced to further tighten monetary policy, starting at the March RBA meeting, as the energy shock flows through to inflation and household costs.
This combination of geopolitical uncertainty, inflation concerns and higher interest rate expectations is likely to dampen consumer confidence in the short term, and that will inevitably influence buyer behaviour in the property market over the coming weeks.
And it is likely that some discretionary sellers will decide to hold off putting their properties on the market.
Yet while short-term sentiment may wobble, it’s important to remember that housing markets don’t move in a straight line.
What we’re seeing now is another reminder that property markets operate within a broader economic environment - one shaped not only by local factors such as supply and population growth, but also by global events that influence inflation, interest rates and confidence.
Against this backdrop, it’s not surprising that auction clearance rates have fallen a little over the past week.
While the underlying fundamentals of Australia’s housing market remain strong, including ongoing population growth, tight rental markets and a chronic undersupply of well-located homes, short-term confidence tends to ebb and flow with the news cycle.
So rather than reacting emotionally to headlines, it’s worth stepping back and looking at what the latest data is actually telling us about how our housing markets performed over the past week.
On the auction front this week... strong listings activity driving auctions up, but clearance rates fading
The combined capitals auction clearance rate faded to the lowest reading so far this year, with preliminary results indicating only 66.6% of auctions were successful.
The soft outcome comes after the preliminary clearance rate bounced back to 72.1% last week, but after a sharp downwards revision, the final result ended at 57.9%, the lowest since mid-December last year.
See Cotality's full auction report below.
This week, Cotality also reports that:
- Sydney property prices remained flat over the last week, remained flat over the last month but are 5.7% higher than they were 12 months ago.
- Melbourne property prices dropped -0.1% over the last week, also dropped -0.1% over the last month, and increased 4.4% compared to 12 months ago.
- Brisbane property prices increased 0.4% over the last week, increased 1.6% over the last month and are 18.1% higher than they were 12 months ago.
Overall, Australian capital dwelling prices increased 0.6% over the last month and are now 9.6% higher than they were 12 months ago.
Clearly, the property cycle is moving on but our markets are very fragmented.
Source: Cotality March 16th 2026
Of course, these are "overall" figures - there is not one Sydney or Melbourne or Brisbane property market.
And various segments of each market are performing differently.
At the beginning of this cycle the upper quartile of the market lead the upswing but last year the lower quartile across every capital city recorded a stronger outcome for housing values relative to its upper quartile counterpart.
The following chart shows how various segments of each capital city market are performing differently, with median-priced properties performing well.
To help keep you up-to-date with all that's happening in property, here is my updated weekly analysis of data and charts as of 16th March 2026, provided by SQM Research, Cotality, and realestate.com.au.
Current property asking prices
Property asking prices are a useful leading indicator for housing markets - giving a good indication of what's ahead.
Here is the latest data available:
Sydney
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 2,177.939 | -13.170 | -1.4% | 9.5% |
| All Units | 910.973 | 3.027 | 0.7% | 8.2% |
| Combined | 1,660.281 | -6.726 | -1.0% | 9.0% |
Source: SQM Research
Melbourne
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,345.023 | 0.609 | 1.0% | 6.6% |
| All Units | 682.687 | 0.272 | 0.9% | 10.2% |
| Combined | 1,135.258 | 0.499 | 1.0% | 7.2% |
Source: SQM Research
Brisbane
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,446.765 | -7.770 | 0.8% | 19.9% |
| All Units | 881.455 | 5.895 | -0.8% | 25.5% |
| Combined | 1,303.947 | -4.371 | 0.5% | 20.7% |
Source: SQM Research
Perth
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,265.203 | 2.114 | 4.0% | 14.3% |
| All Units | 791.325 | 6.125 | 2.4% | 24.9% |
| Combined | 1,140.713 | 3.120 | 3.7% | 16.0% |
Source: SQM Research
Adelaide
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,157.774 | -9.674 | -0.4% | 13.4% |
| All Units | 628.804 | 6.096 | 0.5% | 17.5% |
| Combined | 1,062.470 | -6.852 | -0.3% | 13.8% |
Source: SQM Research
Canberra
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,257.812 | -2.765 | 0.1% | 5.6% |
| All Units | 611.153 | 0.972 | -0.9% | 2.7% |
| Combined | 1,012.951 | -1.774 | -0.2% | 4.4% |
Source: SQM Research
Darwin
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 818.786 | 2.214 | 1.6% | 12.5% |
| All Units | 467.152 | -2.402 | -2.3% | 17.7% |
| Combined | 680.470 | 0.379 | 0.6% | 13.8% |
Source: SQM Research
Hobart
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 895.279 | 3.539 | 0.3% | 9.7% |
| All Units | 521.439 | -0.039 | 0.9% | 3.9% |
| Combined | 838.086 | 2.976 | 0.4% | 9.1% |
Source: SQM Research
National
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,093.298 | -2.811 | 0.9% | 12.5% |
| All Units | 651.735 | 0.076 | 1.0% | 12.9% |
| Combined | 997.282 | -2.240 | 0.9% | 12.5% |
Source: SQM Research
Cap City Average
| Property type | Price ($) | Weekly Change | Monthly Change % | Annual % change |
|---|---|---|---|---|
| All Houses | 1,582.636 | -12.647 | -0.2% | 9.7% |
| All Units | 810.076 | 3.847 | 0.7% | 11.7% |
| Combined | 1,351.237 | -7.849 | -0.1% | 9.9% |
Source: SQM Research
The value of property asking prices as a leading indicator for housing markets is quite significant.
In fact it's more valuable than median prices which can be quite misleading.
Let's delve into why this is the case and how it impacts the real estate market.
- Early Market Sentiment Indicator: Asking prices often reflect the current sentiment of sellers in the real estate market.
If sellers are confident, they might set higher asking prices, anticipating strong demand.
Conversely, if sellers are uncertain or perceive a market downturn, they might lower their asking prices to attract buyers.
This makes asking prices a real-time indicator of market sentiment, often preceding changes in actual sales prices. - Predictive of Future Price Trends: Trends in asking prices can be predictive of where the actual property prices are headed.
For example, a consistent rise in asking prices over a period can signal an upcoming rise in transaction prices. - Impact of Economic Factors: Economic factors such as interest rates, employment rates, and broader economic health influence asking prices.
For instance, changes in the Reserve Bank of Australia's policies or shifts in the job market can quickly reflect in the asking prices, providing insights into how these factors are influencing the housing market. - Regional Variations: In a diverse market like Australia's, asking prices can also provide insights into regional disparities.
For instance, the property markets in Melbourne and Sydney might behave differently from those in Brisbane or Perth. Asking prices can give early indications of these regional trends. - Influence of Supply and Demand: Asking prices are also a response to the balance of supply and demand in the market.
In areas with limited supply and high demand, asking prices tend to be higher and vice versa.
However, it's important to note that while asking prices are a valuable indicator, they should not be used in isolation.
Other factors like actual sales prices, time on the market, auction clearance rates, and economic conditions also play crucial roles in understanding the property market dynamics.
READ MORE: The latest median property prices in Australia’s major cities
- Also read:This week’s Australian Property Market Update – Latest Data, State by State March 17th 2026
- Also read:Melbourne property market forecast for 2026 | Is it a good time to invest in Melbourne?
- Also read:Everything you need to know about the state of Australia’s property markets in 20 charts – March 2026
- Also read:Latest Property Price Forecasts Revealed. Australian Property Market Outlook 2026: Where To Now After The Rate Rise.
- Also read:Sydney property market forecast for 2026. Is it a good time to invest in Sydney?
Last weekend's auction report
Strong listings activity driving auctions up, but clearance rates fading
The combined capitals auction clearance rate faded to the lowest reading so far this year, with preliminary results indicating only 66.6% of auctions were successful.
The soft outcome comes after the preliminary clearance rate bounced back to 72.1% last week, but after a sharp downwards revision, the final result ended at 57.9%, the lowest since mid-ecember last year.
2,871 capital city homes were auctioned last week, a 58% jump on the volume a week prior which was disrupted by the long weekend in some states.
Compared with the same week a year ago, the number of auctions was up 16%, continuing a trend of strong listings activity that has been apparent more broadly in the flow of new listings coming to market.
Melbourne led the capitals for auction activity, with 1,389 homes going under the hammer, up 144% on the week prior which was impacted by Labour Day long weekend.
66.9% of auctions have reported a positive result based on the collection so far, down from 67.9% the previous week (revised down to 52.6%) and the lowest preliminary clearance rate since mid-December last year.
1,000 auctions were held in Sydney last week, a 6.2% rise from the week prior and only the second time this year the volume of auctions has reached the 1,000 mark.
The preliminary clearance, at 65.1%, was the lowest so far this year and well down from the week prior at 74.3% (revised down to 58.6% once finalised).
Brisbane saw 190 auctions held last week, the second highest number of auctions held so far this year. With a preliminary clearance rate of 65.9%, this was Brisbane’s softest auction outcome so far this year.
155 auctions were held across Adelaide, 45% more than the previous week and on par with the week ending February 1st as the most auctions held so far this year.
The preliminary clearance rate bucked the weaker trend seen across most of the capitals, coming in at 84.0%, the second highest early result through the year-to-date.
Last week’s 81.0% preliminary clearance revised down to 72.9% once finalised.
Canberra hosted 118 auctions last week, more the double the volume a week earlier (55) which was impacted by the Canberra Day long weekend.
The preliminary clearance rate sank to 55.4%, down from 67.9% the week prior. 18 auctions were held in Perth with a preliminary clearance rate of 57.1% and only one auction was held in Tasmania.
This week we should see a similar number of auctions held, with around 2,900 homes currently scheduled to go under the hammer, rising to around 4,000 auctions in the ramp up to Easter.
Our rental markets
Rental markets are also seeing the emergence of multi-speed conditions.
Cotality’s national Rental Value Index rose another 0.7% in February, continuing an accelerating trend in rental growth evident since October last year.
Nationally, rents were up 1.7% over the three months to February, the highest rolling quarterly rise since April last year.
In annual terms, the national rental index is up 5.5%, the strongest 12-month gain since the year ending October 2024.
With capital city rents rising a little faster than home values over the past two months, there has been a subtle rise in the gross rental yield, but at 3.4%, opportunities for cash flow across Australia’s rental market remain slim.
Sydney
| Property Type | Rent ($) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $1,145.45 | 5.55 | 0.7% | 9.2% |
| All Units | $743.84 | 0.17 | 0.2% | 5.4% |
| Combined | $906.69 | 2.39 | 0.5% | 7.3% |
Source: SQM Research
Melbourne
| Property Type | Rent ($) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $800.82 | 4.18 | 1.0% | 5.2% |
| All Units | $589.73 | 0.28 | 0.7% | 4.5% |
| Combined | $678.21 | 1.98 | 0.8% | 5.0% |
Source: SQM Research
Brisbane
| Property Type | Rent ($) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $812.46 | 2.54 | 0.9% | 8.9% |
| All Units | $630.90 | -0.89 | 0.1% | 6.8% |
| Combined | $730.67 | 0.99 | 0.6% | 8.0% |
Source: SQM Research
Perth
| Property Type | Rent ($) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $886.48 | 6.52 | 1.5% | 5.7% |
| All Units | $670.32 | -0.31 | 0.9% | 4.8% |
| Combined | $797.27 | 3.75 | 1.3% | 5.5% |
Source: SQM Research
Adelaide
| Property Type | Rent $) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $690.13 | 0.87 | 0.0% | 2.3% |
| All Units | $535.37 | -7.38 | 0.8% | 3.9% |
| Combined | $637.96 | -1.87 | 0.3% | 2.8% |
Source: SQM Research
Canberra
| Property Type | Rent ($) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $774.51 | -7.51 | -2.0% | -5.5% |
| All Units | $583.89 | -0.90 | -0.1% | 1.2% |
| Combined | $669.72 | -3.93 | -1.1% | -2.5% |
Source: SQM Research
Darwin
| Property Type | Rent ($) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $805.17 | 21.84 | 2.7% | 10.3% |
| All Units | $582.95 | -0.95 | 1.2% | 14.8% |
| Combined | $673.92 | 8.41 | 1.9% | 12.7% |
Source: SQM Research
Hobart
| Property Type | Rent 9$) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $610.16 | -0.16 | 2.3% | 9.0% |
| All Units | $563.08 | 7.92 | 4.0% | 17.6% |
| Combined | $591.39 | 3.06 | 2.9% | 12.2% |
Source: SQM Research
National
| Property Type | Rent ($) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $774.36 | 3.63 | 1.6% | 7.8% |
| All Units | $589.50 | 0.50 | 0.1% | 4.6% |
| Combined | $688.76 | 2.20 | 1.0% | 6.6% |
Source: SQM Research
Cap City Average
| Property Type | Rent ($) | Weekly change | Monthly change | 12 Months change |
|---|---|---|---|---|
| All Houses | $912.86 | 4.13 | 0.8% | 6.9% |
| All Units | $667.56 | -0.56 | 0.4% | 5.2% |
| Combined | $782.57 | 1.67 | 0.6% | 6.1% |
Source: SQM Research
Sellers of good properties are on strike
Vendors remain less active than average.
Although the seasonal rise in new listings has played out through late January and February, with freshly advertised listings tracking roughly in line with a year ago (+0.1%), the flow of new listings is down almost 4.0% compared with the five-year average.
With a softer than average flow of new listings to market, alongside higher levels of purchasing activity relative to a year ago, the volume of advertised stock remains well below average.
Nationally, inventory levels were 14% lower than at the same time last year, ranging from more than a 30% drop in Perth and Darwin to a 3.2% decrease across the ACT.
Vendor metrics
Compared to a year ago, homes are selling faster.
The median number of days on market has shown a rise over recent months, at least partially due to seasonal factors, where selling time lifts through December and January.
Capital city homes sold with a median of 28 days, three days faster than at the same time last year.
