Home values still growing but at slower speeds

Australian home prices increased for the 19^th consecutive month in August, with the national median price rising by 0.5% to a median $802,357, according to new figures from CoreLogic. However, there is significant diversity between the capital city markets, with some areas recording price falls. Home values rose the most in Perth at 2 percent but fell the most in Canberra by 0.4 percent.

CoreLogic says the pace of price growth across the country is slowing, primarily due to affordability constraints and an easing of very tight supply and demand in the strongest markets. Over the three months ending August 30, the national median rose by 1.3 percent, which is less than half the 2.7 percent increase recorded over the same period last year.

Perth remains the hottest property market in the country, with values rising 2 percent to a median of $785,250 last month. Values rose by 1.4% in Adelaide to a median $790,789, and by 1.1% in Brisbane to a median $875,040. Sydney home values lifted by 0.3% to a median price of $1,180,463.

Four capital cities saw a fall in home prices in August, led by Canberra with an 0.4 percent fall to a median value of $845,875. Melbourne and Darwin recorded an 0.2 percent drop to a median of $776,044 and $504,367, respectively. Hobart values softened by 0.1 percent to $655,114.

For the first time since February 2015 when Western Australia was coming out of a mining boom, Perth’s median home value is now higher than Melbourne’s median price. Adelaide has also reached a new milestone with its median value also exceeding Melbourne’s for the first time in the four decades that CoreLogic has been tracking home prices.

Melbourne’s median price is now the third lowest among the capital cities. While the city’s higher proportion of apartments skews its overall home price median lower, there are other factors behind Melbourne’s softening market. These include higher supply, with Victoria building more homes over the past decade than any other state or territory, and lower investor demand due to increased taxes.

CoreLogic’s Head of Research, Eliza Owen said seasonality may have contributed to weaker overall value growth throughout Winter, but affordability was the greater factor. Higher interest rates are limiting buyers’ borrowing capacity and high cost of living pressures are reducing demand.

CoreLogic estimates that an affordable purchase for a median-income household is just $500,000. However, the national median value has just risen above $800,000. Ms Owen said this discrepancy has likely narrowed the buyer pool to wealthier and higher-income buyers.

Sydney

Sydney’s median house price rose by 0.3 percent in August to $1,471,892. The median apartment price rose by 0.5 percent to $859,050.

Melbourne

Melbourne’s median house price fell by 0.2 percent in August to $929,715. The median apartment price dipped 0.1 percent to $610,652.

Brisbane

Brisbane’s median house price increased by 0.9 percent in August to $966,382. The median apartment price rose by 1.7 percent to $653,325.

Adelaide

Adelaide’s median house value lifted 1.4 percent in August to $844,963. The median apartment price rose by 1.5 percent to $555,464.

Perth

Perth’s median house price rose strongly by 1.9 percent in August to $818,839. The median apartment price increased by 2.2 percent to $561,582.

Canberra

Canberra’s median house price eased 0.3 percent in August to $967,933. The median apartment price fell 0.5 percent to $579,774.

Hobart

Hobart’s median house price dipped 0.4 percent in August to $692,606. The median apartment price went the other way, rising by 1.3 percent to $549,569.

Darwin

Darwin’s median house price dipped by 0.1 percent in August to $589,392. The median apartment price fell 0.5 percent to $355,297.

Italian fine wines are gaining momentum among Australian collectors and drinkers, with new data from showing a surge in interest driven by value, versatility and a new generation of producers.

Long dominated by France, the premium wine conversation is beginning to shift, with Italy increasingly positioned as a compelling alternative for both drinking and collecting.

According to Langtons, the category is benefiting from a combination of factors, including its breadth of styles, strong food affinity and more accessible price points compared to traditional European benchmarks.

“Italy has always offered fine wine fans an incredible range of wines with finesse, nuance, expression of terroir, ageability, rarity, and heritage,” said Langtons General Manager Tamara Grischy.

“There’s no doubt the Italian wine category is gaining momentum in 2026… While the French have long dominated the fine wine space in Australia, we’re seeing Italy become a strong contender as the go-to for both drinking and collecting.”

The shift is being reinforced by changing consumer preferences, with Langtons reporting increased demand for indigenous Italian varieties and lighter, food-first styles such as Nerello Mascalese from Etna and modern Chianti Classico.

This aligns with the broader rise of Mediterranean-style dining in Australia, where wines are expected to complement a wider range of dishes rather than dominate them.

Langtons buyer Zach Nelson said the category’s versatility is central to its appeal.

“Italian wines often have a distinct, savoury edge making them an ideal pairing for a variety of cuisines,” he said.

The move towards Italian wines also comes as prices for traditional French regions continue to climb, particularly in Burgundy, prompting collectors to look elsewhere for value without compromising on quality.

Italy’s key regions, including Piedmont and Etna, are increasingly seen as offering that balance, with premium wines available at comparatively accessible price points.

Nelson said value is now a defining factor for buyers in 2026.

“Value is the key driver for Australian fine wine consumers… Italian wines are offering exactly that at an impressive array of price points to suit any budget,” he said.

The category is also proving attractive for newer collectors, offering what Langtons describes as “accessible prestige” and a more open entry point compared to the exclusivity often associated with Bordeaux.

Wines such as Brunello di Montalcino and Nebbiolo-based expressions are increasingly being positioned as entry points into cellar-worthy collections, combining ageability with relative affordability.

At the same time, a new generation of Italian producers is reshaping the category, moving away from heavier, oak-driven styles towards wines that emphasise site expression and vibrancy.

“There’s definitely a ‘new guard’ of Italian winemaking… stripping away the makeup… to let the raw, vibrating energy of the site speak,” Nelson said.

Langtons is also expanding its offering in the category, including exclusive access to wines from family-owned producer Boroli, alongside a broader selection spanning Piedmont, Veneto, Sicily and Tuscany.

The company will showcase the category further at its upcoming Italian Collection Masterclass and Tasting in Sydney, featuring more than 50 wines from 23 producers across four key regions.

For collectors and drinkers alike, the message is clear: Italy may have been overlooked, but it is no longer under the radar.