National home values rose 0.3% in May according to CoreLogic, but the headline masked a widening gap between capitals. Sydney recorded a 0.5% monthly gain while Melbourne was unchanged for the third consecutive month.
Capital City Snapshot
- Sydney median house price: A$1.42m (+0.5% m/m)
- Melbourne median house price: A$942k (0.0% m/m)
- Perth continues to lead annual growth at 12.4%
Market Indicators
| Metric | Sydney | Melbourne |
|---|---|---|
| Days on market | 28 | 35 |
| Auction clearance | 68% | 59% |
| New listings (May) | +4% | +9% |
Buyer Takeaways
- First-home buyers remain active in Melbourne’s outer suburbs.
- Sydney prestige market shows renewed interest from upgraders.
- Fixed-rate rollovers continue to shape borrowing capacity.
Agents expect both cities to track national rate expectations closely through the September quarter.
