February 2026

The Australian property market entered 2026 with significant momentum, as the national median house price rose 0.8 per cent in January to reach $973,000. This brings annual house price growth to a robust 12.5 per cent. The unit market demonstrated similar resilience, with the national median climbing to $746,000 following consistent 0.8 per cent monthly growth and a 9.2 per cent year-on-year gain.

This sustained growth across both sectors underscores the persistent strength of housing demand as the national house median rapidly approaches the psychologically significant $1 million threshold.

The core message for the start of the year is one of resilient demand meeting shifting economic conditions. While the Reserve Bank’s decision to raise the cash rate by 0.25 percentage points in February is expected to moderate growth momentum by tightening borrowing capacity, the underlying shortage of housing supply remains unresolved. Consequently, we anticipate that any cooling in price growth will be gradual, with property values remaining well-supported through the first half of 2026.

Thinking of selling or curious about your property’s value in the current climate? Contact the Ray White Carlingford team today for an up-to-date market appraisal.