Housing values have risen again across Australia for August, with the strongest month-on-month growth since May of 2024.

It continues a trend of rising house values – growing 4.1 per cent this year – which is amplified by a lack of supply.

Brisbane, Perth, and Darwin all experienced an increase in house values of at least 1%, while Hobart was the only major city to see a decline, with a decrease of 0.2% in value.

Continued growth in housing values is evident, and it might persist if interest rates continue to decrease. However, Lawless believes this growth will be more sustainable compared to the rapid increases seen during the pandemic.

“I would be surprised if the national [value] monthly rate of change approaches the previous cyclical peaks, considering how stretched housing affordability has become,” he noted.

“It is more probable that home values will increase at a more manageable rate, with demand being limited by affordability challenges, normal population growth rates, and cautious lending practices.”