Where property prices are rebounding around the country
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Where property prices are rebounding around the country

Interest rate rises and cost of living pressures resulted in mixed results on home values around Australia

By KANEBRIDGE NEWS
Tue, Jan 2, 2024 11:10amGrey Clock 3 min

Australian home prices rebounded strongly in 2023, new figures released today have shown.

The Home Value Index from property data provider CoreLogic revealed prices surged by 8.1 percent last year after falling -4.9 percent in 2022. However, recorded growth is nothing like the rises in 2021, which saw home prices swell by 24.5 percent.

CoreLogic research director Tim Lawless said while the greatest increases were seen at the start of 2023, consistent interest rate rises announced by the RBA put a dampener on growth as the year progressed, with just a 0.4 percent increase in December.

“This was the smallest gain in our national monthly HVI since values started rising in February,” Mr Lawless said. “After monthly growth in home values peaked in May at 1.3 percent, a rate hike in June and another in November, along with persistent cost of living pressures, worsening affordability challenges, rising advertised stock levels and low consumer sentiment, have progressively taken some heat out of the market through the second half of the year.”

While regional areas saw record price rises during COVID, it is now the Australian capitals leading increases in home values, Mr Lawless said.

“Stronger conditions across capital city markets is a reversal of the early COVID trend which saw regional markets experience higher demand amid strong internal migration,” he said.  “Regional migration trends have mostly normalised through 2023, and the significant capital gains recorded through 2020 to 2022 has meant many regional markets have become less affordable.”

However, growth across capital cities is uneven, with Perth recording the highest annual increases at 15.2 percent, followed by Brisbane on 13.1 percent and Sydney on 11.1 percent. The results were followed by Adelaide (8.8 percent), Melbourne (3.5 percent) and Canberra (0.5 percent). Darwin and Hobart values declined over the past 12 months, down -0.1 percent and -0.8 percent respectively.

In Perth, the top performing suburb was Armadale, up 25.2 percent, followed by Gosnells, 22.6 percent.

In Brisbane, home values in the suburb of Nathan are up 22 percent on last year, followed by Mt Gravatt, up 21.1 percent.

For the Sydney market, Blacktown lead the way, with a 15.8 percent increase in home values, followed by the inner west suburbs  of Marrickville – Sydenham – Petersham, which increased by 15.3 percent.

Rank

SA3 Name 

SA4 Name 

Median Value

Annual change 

Greater Sydney

1

Blacktown

Sydney -Blacktown

$969,287

15.8%

2

Marrickville -Sydenham -Petersham

Sydney -City and Inner South

$1,741,931

15.3%

3

Hornsby

Sydney -North Sydney and Hornsby

$1,485,422

15.3%

4

Strathfield -Burwood -Ashfield

Sydney -Inner West

$917,641

14.9%

5

Eastern Suburbs -North

Sydney -Eastern Suburbs

$1,988,175

14.6%

6

Warringah

Sydney -Northern Beaches

$2,068,585

14.5%

7

Canterbury

Sydney -Inner South West

$1,085,111

14.3%

8

Mount Druitt

Sydney -Blacktown

$812,868

14.1%

9

Merrylands -Guildford

Sydney -Parramatta

$1,060,399

14.1%

10

Leichhardt

Sydney -Inner West

$2,007,850

14.0%

Greater Melbourne

1

Darebin -North

Melbourne -North East

$762,619

7.9%

2

Banyule

Melbourne -North East

$935,214

7.7%

3

Monash

Melbourne -South East

$1,223,086

7.6%

4

Knox

Melbourne -Outer East

$910,533

7.5%

5

Manningham -West

Melbourne -Inner East

$1,388,013

7.1%

6

Manningham -East

Melbourne -Outer East

$1,539,018

6.9%

7

Whitehorse -West

Melbourne -Inner East

$1,213,085

6.7%

8

Whitehorse -East

Melbourne -Outer East

$1,185,513

6.1%

9

Casey -North

Melbourne -South East

$808,703

5.3%

10

Casey -South

Melbourne -South East

$758,745

5.1%

Greater Brisbane

1

Nathan

Brisbane -South

$1,079,497

22.0%

2

Mt Gravatt

Brisbane -South

$1,117,075

21.2%

3

Sunnybank

Brisbane -South

$1,026,758

19.4%

4

Carindale

Brisbane -South

$1,212,544

19.1%

5

Holland Park -Yeronga

Brisbane -South

$756,166

18.8%

6

Springwood -Kingston

Logan -Beaudesert

$638,552

17.1%

7

Chermside

Brisbane -North

$945,095

16.7%

8

Rocklea -Acacia Ridge

Brisbane -South

$935,200

16.2%

9

Nundah

Brisbane -North

$794,173

15.7%

10

Forest Lake -Oxley

Ipswich

$665,472

15.4%

Greater Adelaide 

1

Playford

Adelaide -North

$474,782

14.3%

2

Gawler -Two Wells

Adelaide -North

$590,250

13.7%

3

Salisbury

Adelaide -North

$582,159

13.2%

4

Tea Tree Gully

Adelaide -North

$700,396

11.5%

5

Port Adelaide -West

Adelaide -West

$691,116

11.0%

6

Onkaparinga

Adelaide -South

$663,042

9.9%

7

Port Adelaide -East

Adelaide -North

$737,926

8.5%

8

Marion

Adelaide -South

$797,606

8.3%

9

Campbelltown

Adelaide -Central and Hills

$859,213

8.2%

10

Burnside

Adelaide -Central and Hills

$1,416,110

8.2%

Top 10 capital cities SA3s with the highest 12-month value growth – Dwellings. Source: CoreLogic



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Cold Plunges Are Hot. But Can You Do It in Your Home Pool?

With interest booming, wellness experts and pool builders have seen more homeowners hoping to take cold therapy immersion into their own backyards.

By ERIC GROSSMAN
Fri, Jan 9, 2026 4 min

Cold plunges have gone from fringe curiosity to full-blown cultural phenomenon, the wellness world’s equivalent of a headline-grabbing breakout star.

Adherents slip into icy water on a daily basis, chasing an electric jolt of clarity that feels like a flip has been switched inside your brain.

Dedicated cold plunge practices are everywhere from upscale fitness studios and pro sports locker rooms to renowned wellness destinations such as Mountain Trek Health Reset Retreat in British Columbia.

Considering the ever-expanding assortment of companies flooding the market with cold plunge tubs and other custom devices dedicated to achieving icy bliss—with costs potentially reaching into the tens of thousands—some homeowners are tempted to use their swimming pools as an alternative.

“We’re absolutely seeing more homeowners use their pools as year-round cold plunges, especially in colder climates,” said Nick McNaught, CEO and co-founder of Toronto-based Stay Unbounded, which offers cold exposure workshops, retreats and certifications.

“The motivation is often simplicity and cost. If the water is already cold, people see value in keeping the pool open longer or winterizing it differently to support cold exposure.”

Suzanne Vaughan, president of Massachusetts-based pool builder SwimEx, points out the inherent convenience that comes with taking a frosty dip out back.

“From what homeowners tell us, the appeal of a cold plunge at home is less about chasing extremes and more about having a simple ritual that’s always available,” she said.

“It’s quick, accessible and easy to build into a daily routine.”

Among new clients Vaughan works with, year-round cold plunge use is usually planned from the start rather than as an afterthought.

“More are choosing indoor pools or small attached structures because that makes temperature control, equipment protection and day-to-day use much easier in colder climates,” she said.

Blue Cube / Courtesy of Jeff Dotson

If someone is thinking about using an existing home pool as a cold plunge, the main questions are likely to involve practicality and protection.

“Larger volumes of water take more energy and time to keep at colder temperatures, and you need a plan to protect plumbing, finishes and equipment from freeze–thaw cycles,” she added.

“Whatever the design, you want a system that’s built for the temperature range you have in mind, and a pool professional who can help you winterize safely.”

One such professional is Hunter Gary, a certified master pool builder and owner of H2 Outdoor Living in Tennessee.

“Most everyone has a ‘number’ in degrees when it comes to cold plunging. When a client asks our company to design a cold plunge for them, I ask ‘what’s your number?’” Gary said.

“A smaller body of water or cold plunge vessel may be much easier for maintaining a balanced temperature…but if using a pool gets you excited about a more serious approach to inviting this wellness experience in your life, then go for it.”

Amy McDonald, owner and CEO of Under a Tree, a wellness consultancy, said transforming a pool into a plunge might not be worth time and investment

“It is almost impossible to retrofit a standard swimming pool into a cold plunge,” she said.

“The energy and money to do it properly is greater compared to just creating a complimentary contrast circuit.”

A proper setup needs to be exceptionally cold, she noted, so depending on where the pool is located it might not get chilly enough to provide optimal health benefits.

“That could work in northern areas of the U.S., but it takes a lot for a pool to generate and keep that kind of cold, not even considering if the pool ices over,” she said.

McNaught echoed those concerns, citing how home pools aren’t designed specifically for cold plunging, so temperature consistency, cleanliness, ease of access and safety become important factors.

“Dedicated cold plunge setups offer more control, smaller volumes and lower ongoing maintenance,” he said.

“For many people, a pool works as an entry point. Over time, those who commit to the practice transition to a dedicated setup because it better supports frequency, comfort and long-term use.”

Beyond geography and climate, industry experts pointed out other challenges homeowners are likely to face.

“Pools are saturated with chlorine and other chemicals that directly absorb into the bloodstream. The advantage of many cold plunges is that no chemicals are required for residential use,” said David Haddad, as the co-founder of Oregon-based BlueCube Wellness.

“Constant ozonation and filtration is enough to kill organic compounds without exposure to sanitizing chemicals.”

Most cold-plunge systems are monitored to stay between 50-60 degrees Fahrenheit—with experienced plungers often preferring lower temperatures.

While “the ultimate experience might be a glacial lake in Finland, unfortunately that’s a bit out of reach for most of us,” said Andreas Stelluti, co-founder at Texas-based Colderatti, whose vessels feature the world’s first chemical-free cold plunge technology, powered by a triple filtration system that removes 99% of impurities to provide a system with drinking-quality water.

“Having a cold plunge at home brings that experience to your backyard, making it very easy and accessible, so you have the ability to make it part of your lifestyle,” he added.

Stelluti noted that as spring arrives and clients’ home pools start to warm up again, they begin to miss the cool water.

“Many say ‘I really need this to be part of my lifestyle year-round’ and that desire for consistent, accessible cold immersion is what motivates them to invest in a dedicated cold plunge setup,” he explained.

“Unfortunately, you can’t use your pool as a year-round cold plunge during the summer. Especially not here in Texas.”

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