The best (and worst) performing regional areas for property around Australia

Home values and rents continued to rise across most of Australia’s 50 largest regional markets over the past three months, with median prices and weekly rents at record levels in many areas. Dwelling values across regional Australia as a whole rose by 2.1 percent over the three months to April, according to CoreLogic’s latest quarterly regional market update. This was the fastest rate of growth in nearly two years and outpaced the capital cities, which rose by 1.7 percent.

“After falling 5.8 percent between May 2022 and January 2023, regional home values have seen a slower recovery compared to capital city values but have now regained the losses from the downturn to reach a new record high,” said CoreLogic economist, Kaytlin Ezzy. Many regional markets experienced runaway price growth during the pandemic as thousands of people left the cities. Many of the markets that experienced the greatest growth went on to experience the largest corrections.

While regional values and rents overall are at a record high, only 19 of the 50 regions analysed have returned or surpassed their record medians at this point in the recovery. The best performing areas were mostly in Western Australia and Queensland, while the worst performers were on the NSW coast and southern highlands, and in Victoria. In terms of weekly rents, 37 of the 50 regions are at record highs and 47 recorded increases in rents over the past three months.

“Housing affordability has continued to deteriorate through the start of 2024 for tenants and prospective home buyers alike. The outlook for regional housing markets will heavily depend on demographic trends, housing supply, localised economic drivers and the outlook for interest rates,” Ms Ezzy said.

Here is a summary of 10 regional markets, incorporating some of the strongest and weakest areas.

Batemans Bay, NSW

The south coast town recorded the highest increase in weekly rents over the quarter. Rents rose 6 percent to a median $570 per week. Home values rose 0.4 percent over the quarter to $743,712. Vendors are being forced to discount their original selling prices in Batemans Bay more than any other regional area. The average rate of discounting is 6.5 percent. Over the past five years, home values have risen 47.4 percent and rents have increased by 34.8 percent.

Ballina, NSW

Home values remain 15.9 percent below their April 2022 peak, which is the largest decline among the 50 regional markets at present. The median home value rose 1.1 percent over the quarter to $957,767. Weekly rents increased by 1.7 percent to a median $740 per week. Over the past five years, the median home price has soared 53.9 percent and weekly rents have lifted 35.5 percent.

Ballarat, VIC

Ballarat experienced the largest decline in home values over the three months to April. The median home price fell 2 percent to $541,815. Weekly rents increased by 0.4 percent to a median $425 per week. Over the past five years, the median home price has increased 30.9 percent and weekly rents have risen 22.3 percent.

Shepparton – Mooroopna, VIC

Home values rose 1.3 percent over the quarter to $456,331. Weekly rents increased by 1.2 percent to a median $472 per week. Over the past five years, the median home price has lifted 49.5 percent and weekly rents have accelerated 39 percent.

Geraldton, WA

Geraldton recorded the highest quarterly growth in home values of all 50 regions, up 8.8 percent to $394,251. Weekly rents increased by 3.6 percent to a median $475 per week. The rental yield is among the highest of the 50 regions at 6.2 percent. Over the past five years, the median home price has risen 61.4 percent and weekly rents have increased 54.6 percent.

Bunbury, WA

Bunbury recorded the fastest average selling time over the quarter at 14 days. It also had the second highest growth in weekly rents at 4.7% to a median $627 per week. Rents have been rising strongly for an extended period, with Bunbury recording the largest annual rise in rents at 16.4%. Home values rose 6.4 percent over the quarter to $576,979. Over the past five years, the median home price has leapt 68.3 percent and weekly rents have increased by 65.3 percent.

Busselton, WA

Busselton had the second-highest quarterly growth in home values of all 50 regions, up 7.7 percent to a median $812,050. It also recorded the second fastest selling times of the 50 regions at an average 16 days. Weekly rents increased by 2.8 percent to a median $723 per week. Over the past five years, the median home price has leapt 68 percent and weekly rents have soared 60.3 percent.

Sunshine Coast, QLD

Home values rose 3.2 percent over the quarter to $1,019,013. Weekly rents increased by 4.4 percent to a median $766 per week. Over the past five years, the median home price has grown strongly by 69.1 percent and weekly rents have lifted 46.8 percent.

Coastline at Dicky Beach in Caloundra on Queensland’s Sunshine Coast, Australia

Rockhampton, QLD

Rockhampton is a very affordable market but strong demand amid high interest rates is seeing home values lift at a rapid rate. Home values rose 5.1 percent over the quarter to a median $442,962. Weekly rents rose by 2.4 percent to a median $498 per week. Over the past five years, the median home price has skyrocketed 60.1 percent and weekly rents have charged 48 percent higher.

Launceston, TAS

Home values in Launceston rose 3.6 percent over the quarter to $534,227. Weekly rents increased by 2 percent to a median $491 per week. Over the past five years, the median home price has risen 56.7 percent and weekly rents have accelerated 33.5 percent.

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.